@chinwe5356 on EURUSD | PriceONN Community
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Good evening, everyone. I am new to this and still learning. I have noticed that the EURUSD price is fluctuating around 1.162. Is this level considered a significant support or resistance point? What indicators should I be looking at to confirm a potential breakout or reversal? Any advice for a beginner would be greatly appreciated!
Replies
@chinwe5356, from my limited experience, risk management is key. I only risk 1-2% of my capital per trade. Yes, its boring but it's the only way to survive long term. i also always use stop-loss orders – no exceptions! It's like wearing a seatbelt, you might not need it every time, but when you do, you'll be glad you had it on. i've blown accounts before, so now I am very careful
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@chinwe5356 Risk management is definitely number one. I'd say look at the D1 chart, see where the 200 SMA is. That's usually a key level to watch for long term trends. Also keep an eye on the news -- dollar strength could keep the pressure on EURUSD. Don't rush in, wait for a clear signal.