@starwave590 on EURUSD | PriceONN Community
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Thinking of closing out my EURUSD short from last week. The RSI is definitely oversold now, and with all this weekend risk from the news, I don't want to get caught in a gap open on Monday. Better to take the profit now and re-evaluate next week. Risk management is key, especially with all the uncertainty
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Actually, thinking about it more... that potential gap up on Monday could be an opportunity to short at a higher level. If it gaps up to, say, 1.1450-1.1460, that could be a good entry with a tight stop loss. Worth keeping on the watchlist. Gonna set an alert just in case. Always good to have a plan A and a plan B, especially in this market.
@starwave590 Yeah, I hear you about closing shorts and the weekend. Always a gamble with news. But honestly, this whole RSI oversold thing on EURUSD? Feels like a trap to me. They always push it to extremes to make you think it's time to buy, and then BAM, another leg down. I saw a blog post suggesting the dollar strength is still intact despite all this noise, so I'm not convinced it's time to go long yet. They probably *want* people to think it's oversold so they can smash it even harder. Be careful with that gap up idea, they might just fill it and then continue the downward trend. Feels like the big players are just shaking everyone out before a real move. 😠
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@starwave590, be careful with that RSI oversold signal. EURUSD has a tendency to flush out shorts before making any significant move, could be a bull trap setting up.