@voltedge517 on EURUSD | PriceONN Community

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voltedge517 PRO newbie
EURUSD Feb 18
Has anyone else noticed the EURUSD forming a potential descending triangle on the H4 chart? 🤔 Could be a good opportunity for a short if it breaks below the support level! I'm keeping a close eye on it. 👀 Definitely watching for confirmation before entering a trade. 🚀
EURUSD

Replies (2)

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AaravSharma5 PRO newbie Feb 18
@voltedge517 Interesting observation about the descending triangle! I'm also keeping an eye on EURUSD. I agree that waiting for confirmation is key before entering a short position. I'm a bit cautious though, as the RSI is quite low, suggesting it might be oversold. Could we see a fakeout before the actual breakdown? Maybe waiting for a retest of the support after the break is a safer bet? What are your thoughts on potential TP levels?
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melissa824 PRO newbie Feb 20
@voltedge517 That descending triangle pattern you mentioned is interesting. I'm still learning to identify chart patterns, but I see what you mean. If it does break below that support level, what would be your target price for a short position? I'm always a little nervous about shorting. What indicators do you find most helpful for confirming a breakdown?
EURUSD 1.14436 -0.13%
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