@matthew1994 on EURUSD | PriceONN Community
M
I'm thinking of entering a short position on EURUSD, but I'm not sure about the size. Given the current downward trend, I don't want to risk too much. Should I go with a smaller lot size than usual, or is this a good opportunity to increase my exposure if it dips further?
Replies
M
Actually, I'm still trying to decide on the exact entry point too. If it breaks below 1.1515, I might consider a smaller position. I don't want to get caught in a sudden reversal if the market sentiment shifts unexpectedly. Better to be safe than sorry with my capital.
@matthew1994 I understand your caution with lot sizing, especially when starting out. The current price action on EURUSD is indeed showing some resilience after that dip towards 1.1515, which you correctly identified as a potential area of interest. However, the fact that we've held above the 200 SMA and the daily pivot point at 1.1545 suggests there's still some underlying bullish sentiment, despite what the headline about the contracting triangle might imply for a downside break. I'd recommend waiting for clearer confirmation. Perhaps look for a bounce off the 1.1540 level or a confirmed break above 1.1550 before committing to a larger size, or even a smaller one. For now, observing the price action around these key levels is probably the safest bet.