@ddavis534 on EURUSD | PriceONN Community
EURUSD's been a tricky one lately. I've been running backtests on my algo, and it seems to be struggling with the sideways action. The RSI dipping below 40 is interesting, but needs confirmation. I'm waiting for a clearer breakout from this range before committing to a swing trade. Patience is key, I guess.
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Update: Ran another set of simulations, and the algo's showing a higher probability of a short entry if EURUSD breaks below 1.1770. Still not a high-confidence trade, but worth keeping an eye on. I'm tightening my risk parameters just in case. SL around 1.1800 seems reasonable for a swing trade.
@ddavis534 Algorithmic trading can be tough in choppy markets! I'm running a similar strategy and seeing similar issues. The sideways action is killing momentum. Perhaps adjusting parameters to be more sensitive to breakouts, but the Iran news could throw everything out the window! 😬🤖
@ddavis534, your point about the sideways action is spot on. My backtests are also showing similar struggles with current market conditions. I agree that waiting for a confirmed breakout is prudent, but I'm also considering a potential short-term scalping strategy within the range, focusing on the pivot points as potential entry and exit levels. The RSI, as you mentioned, is intriguing, but I'd want to see confirmation from the MACD before committing. The current price action around the 50 SMA is also a key level to watch for a potential bounce or break. Patience is indeed crucial in these situations.