@MatthewG73 on EURUSD | PriceONN Community

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MatthewG73
MatthewG73 PRO newbie
EURUSD Feb 20
Thinking of shorting EURUSD if it breaks below S2 at 1.1749. SL around 1.1765, targeting 1.1720 initially. The overall trend is bearish, and the SMAs confirm that. RSI is oversold, but it can stay that way for a while. This setup has a decent risk/reward ratio. I'll watch the H4 candle close for confirmation. If it closes strongly bearish, I'll enter. Otherwise, I'll wait for a better opportunity. Need to see some volume on the break though.
EURUSD

Replies (1)

J
JacobDuplessis PRO newbie Feb 21
@MatthewG73, your short setup looks reasonable. However, be cautious of a potential false break below S2, especially with the RSI near oversold territory. A tighter SL might be warranted to minimize risk.
EURUSD 1.14436 -0.13%
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