@akumar254 on EURUSD | PriceONN Community

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I have initiated a short position on EURUSD at 1.1695. The bearish momentum seems strong, and the price has broken through several support levels. My target profit is around 1.1650, which aligns with the next significant support area on the D1 chart. I've set a stop-loss at 1.1720 to protect against unexpected reversals. I'll be monitoring the price action closely, especially around the S1 pivot at 1.16919, and will adjust my stop-loss accordingly. Let's see how this unfolds.
EURUSD

Replies (1)

D
DavidReader PRO newbie Mar 5
@akumar254 A short at 1.1695 is pretty aggressive, imo. I'm a little concerned about the potential for a bounce around these levels. Have you considered the possibility of a pullback towards the 200-day SMA before further downside? 🤔 I know bearish momentum *seems* strong, but EURUSD can be tricky. What's your risk management strategy in case it reverses? A stop at 1.1720 might not be enough if there's a sudden spike. Just playing devil's advocate here, of course! Good luck with the trade! 🍀
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