@sabelo3379 on EURUSD | PriceONN Community

Update: I've entered the short position at 1.1844. The retest held nicely, and we're already seeing some downward momentum. RSI is still below 50, confirming the bearish bias. I'm managing the trade actively, and will consider moving my SL to breakeven if we break below 1.1840 with conviction. This pair has been choppy lately, so tight risk management is key. I'm also watching the news for any surprise announcements that could affect the pair. Remember, trading isn't just about finding the setup, it's also about managing the trade effectively and adapting to changing market conditions. Let's see how this plays out. Hope it goes well.

Hello @sabelo3379, thank you for sharing your analysis. I'm still learning about short setups, and your explanation is quite helpful! I'm a little unsure about how to choose the stop loss level when considering the SMA. Is it generally best practice to place it just above the SMA as you mentioned, or are there other factors to consider? I am looking at the chart now, and it seems like a reasonable strategy. I appreciate your guidance!