@miguellim on EURUSD | PriceONN Community
EURUSD looking prime for a bull trap! Price action is pushing higher, but volume is weak. Could see a quick spike to 1.1660 then a sharp reversal. Be careful going long here, might get rekt! NFA!
Replies
And just to add to that, the 200 SMA is sitting right around 1.16588... that's a major resistance level. If price can't break above that convincingly, the bull trap scenario becomes even more likely. I'm watching the RSI closely too. If it starts to show divergence near that resistance, I'm definitely looking for a short entry. Also, news about middle east tensions are pushing safe haven assets. Could affect EURUSD negatively.
I'm thinking of setting a short order around 1.1655 with a tight stop loss just above the 200 SMA. TP around 1.1620. Need to watch it closely though, this market is volatile!
I'm thinking of setting a short order around 1.1655 with a tight stop loss just above the 200 SMA. TP around 1.1620. Need to watch it closely though, this market is volatile!