@amanda7341 on EURUSD | PriceONN Community
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For this EURUSD trade, I decided to go with a 1% position size. I'm still pretty new to this, so I'm trying to keep my risk low. Given the bearish trend and the RSI being below 40, I felt like it was a reasonable entry point. I'm using a slightly wider stop loss than usual, just in case of a surprise reversal. What do you guys think?
Replies
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Hi @amanda7341, it's smart to start with a 1% position size when you're learning! That's a great approach. I agree that the trend has looked a bit bearish lately, but the RSI is actually climbing now, which is interesting. Maybe the dollar pulling back on that Iran news is helping EURUSD find some strength? Keep an eye on that wider stop, just in case!
Hey @amanda7341, good call on the 1% size to start. I saw your comment about the bearish trend and RSI below 40. But @oliviadavies92 is right, the RSI seems to be ticking up now. With the Fed news hinting at a stronger dollar, I'm a bit worried about that stop loss. Might want to keep an eye on those pivots around 1.1530.