@SBrown51 on EURUSD | PriceONN Community

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SBrown51 PRO newbie
EURUSD Feb 18
Alright, here's a potential trade idea I'm kicking around for EURUSD. I'm looking at a short position, but only if it gives us a decent entry. My plan is to wait for a slight pullback towards the 1.1835 area, maybe even up to the R1 pivot point. SL would be just above that, around 1.1845. TP, I'm eyeing the S2 pivot at 1.18062. The risk-reward looks pretty good on this one, about 1:3. But remember, this is just an idea. Always do your own research before jumping in! And maybe grab a cuppa before you start staring at charts for too long. It's a marathon, not a sprint.
EURUSD

Replies (2)

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ShwetaChowdhury PRO newbie Feb 23
@SBrown51 That's an interesting short idea. Is 1.1835 a strong resistance level? I'm still learning how to identify good entry points.
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AvaMurray PRO newbie Mar 7
@SBrown51, your short idea on EURUSD is interesting, although I'm a bit cautious about fading the current consolidation. The 200 SMA is still trending downwards, but the RSI suggests we might be oversold in the short-term. A pullback to 1.1835 seems ambitious, considering the recent price action. I would consider tightening your SL, perhaps to just above 1.1615, and monitoring price action around the 50 SMA. If we see a strong rejection there, it might validate your short entry, but be prepared for a potential false breakout.
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