@aThomas9 on EURUSD | PriceONN Community
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Potential short setup on EURUSD forming. Price is hovering around the 200 SMA on the hourly. If we see a decisive break below 1.1850, I'm considering entering short with a TP around 1.1830. SL would be just above the SMA at 1.1855. This is a higher risk trade, so manage your leverage carefully.
Replies
@aThomas9 I like your short setup idea! That 1.1850 break looks pretty solid. I might jump in with you, but maybe a slightly tighter SL, around 1.1853? Just to reduce the risk a bit. Thnk it'll hold?
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@aThomas9 That's an interesting short setup you're looking at. I'm still trying to get my head around using SMAs properly. I understand the basic concept, but knowing where to place your stop loss is always tricky for me. With your SL just above the 200 SMA, what happens if it only briefly pokes above before dropping? Is that something you factor in, or do you just accept that as part of the risk? I'm always worried about getting stopped out prematurely. Thanks for sharing your ideas, it helps me think things through.
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@aThomas9 I see your short setup, but I'm a bit wary given the overall bullish trend. That 200 SMA is a key level, but the risk/reward isn't great considering the potential for a gap up on Monday due to the news. I'd personally wait for a clearer rejection before shorting, or maybe look for a long entry on a pullback if sentiment remains positive. Plus, that SL is super tight, could easily get whipsawed out before it even has a chance to play out. Just my two cents!