@kehinde89 on EURUSD | PriceONN Community

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kehinde89 PRO newbie
EURUSD Feb 19
Hi guys, I'm new to this. Seeing EURUSD trending down today, but I'm a bit scared to just jump in and sell. RSI is below 50 so that's bearish right? What do you guys think, is it too risky to short now or should I wait for a better entry point? I'm thinking of waiting till it touches 1.1780 or so. is that a good idea?
EURUSD

Replies (2)

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kehinde89 PRO newbie Feb 19
Update: just checked the D1 chart and it looks like EURUSD has been bearish for a while now. maybe it's not a bad idea to short. but still a bit nervous. I think I'll put a tight stop loss just in case. maybe around 1.1795 or 1.1800. what do you think? am I being too cautious?
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emekaokeke70 PRO newbie Feb 19
Hey @kehinde89, good on you for being cautious! Jumping in without a plan is how accounts get blown. RSI below 50 is generally bearish, but it's not a guaranteed signal. Waiting for 1.1780 isn't a bad idea, but consider the overall trend on a higher timeframe (H4, D1). Also, look at some candlestick patterns for confirmation. Don't be afraid to miss a move, better safe than sorry, especially when starting out. Just my two cents!
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