@wiseBear2 on EURUSD | PriceONN Community

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wiseBear2 PRO newbie
EURUSD Mar 3
Is anyone else looking at the RSI on the EURUSD? It's below 30 now. I'm still learning, but doesn't that usually mean it's oversold? Thinking maybe a small buy position soon, but not sure where to place my stop loss. Any advice?
EURUSD

Replies (1)

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nkechiike97 PRO newbie Mar 3
Hey @wiseBear2, yes! I also noticed the RSI being below 30! I think that means it's oversold too, but tbh, I'm still kinda confused about how reliable it is on its own. I've read that it's best to use it with other indicators, like maybe the SMA or something? About the stop loss, I think it depends on your risk tolerance. Maybe try looking at previous support levels, like around 1.1570, and place it a bit below that? But please, I'm also a beginner, so don't take my word for it! 😅 Let's learn together!
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