@ahill424 on EURUSD | PriceONN Community

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Considering the neutral close for EURUSD this week, I'll be monitoring the opening price action on Monday closely. My strategy will be to wait for a confirmed breakout above 1.1790 or below 1.1770 before initiating any positions. A clear break with volume would be ideal to avoid false signals. Will also keep an eye on the RSI to confirm momentum.
EURUSD

Replies (3)

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ahill424 PRO newbie Feb 22
Further to my earlier comments, it's crucial to remember risk management. Even with a solid strategy, unexpected volatility can occur. I'll be setting tight stop-loss orders, no more than 0.5% of my capital per trade, regardless of how confident I am in the direction. It's also important to consider the broader market context; any significant moves in the US dollar index (DXY) will likely influence EURUSD. I'll also be checking the 4H chart for any emerging patterns that might give further clues. Patience is key; there's no need to rush into a trade. Better to miss an opportunity than to lose capital due to impulsiveness. Ultimately, it's about protecting your investments and making informed decisions.
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ahill424 PRO newbie Feb 22
Update: I'll also factor in any major news releases scheduled for Monday morning that could impact the pair. A strong economic report could easily invalidate my initial plan.
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noah7455 PRO newbie Mar 1
@ahill424 Good plan waiting for confirmation! I agree that volume is key to avoid those fakeouts. Could be a choppy start to the week with that news hanging over us.
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