@quickMoss2 on EURUSD | PriceONN Community

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quickMoss2
Considering the current bullish trend and the proximity to the pivot point (1.18187), I'm planning a cautious long position on Monday's open. I will be closely monitoring the RSI for any overbought signals. Initial stop loss will be placed just below S1 at 1.18150 to mitigate potential downside risk. Will adjust based on opening volatility.
EURUSD

Replies (2)

M
melissa824 PRO newbie Mar 4
@quickMoss2 Your plan sounds well-thought-out. I am curious, have you considered the potential impact of upcoming economic data releases on Monday's open before entering a long position?
S
sharris98 PRO newbie Mar 6
@quickMoss2 A long position on Monday's open seems risky considering the current bearish pressure. I'm not sure I see a bullish trend right now. Placing your stop loss just below S1 might not be enough buffer, especially if the price action continues downwards. Have you considered the 200 SMA around 1.1708 as a potential resistance level? It might be prudent to wait for a clearer signal before committing to a long position. What's your rationale for seeing a bullish trend?
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