@siddharth1996 on EURUSD | PriceONN Community

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siddharth1996 PRO newbie
EURUSD Feb 24
Hey everyone, I'm looking at EURUSD and seeing a potential short opportunity forming. RSI is below 40, and it's struggling to break above the 50 SMA on the hourly. What are your thoughts on a possible entry around 1.1775 with a target of 1.1750? Anyone else looking at similar setups, or seeing something different?
EURUSD

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siddharth1996 PRO newbie Feb 24
Update: So, I've been digging deeper into the EURUSD charts. Looking at the D1 timeframe, it seems like we're still in a downtrend, but the price action is getting choppy. I'm also noticing a potential head and shoulders pattern forming, which could signal a reversal if it breaks above 1.18. My initial short idea is still valid imo, but I'm thinking of tightening my stop loss to around 1.1785 to manage the risk. What do you guys thnk? Should I consider waiting for a clearer breakout before entering?
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