@aaravsharma on EURUSD | PriceONN Community
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Markets being closed on weekends is the worst... I'm just staring at the charts and overthinking everything. Trying to plan my trades for next week, but it's tough without any real price action. I'm thinking of watching for a potential short if EURUSD breaks below the 50 SMA on the D1 chart. The oil crisis news could be a catalyst for that. Or maybe it's all an inducement and it'll pump lol. Gotta have a plan either way I guess... anyone else feeling this bored?
Replies
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@aaravsharma I'm a bit cautious about shorting just yet. The 50 SMA is a decent level, but there's also the 200 SMA lurking above. Maybe wait for a clear break and retest before committing? Keep an eye on DXY as well.
@aaravsharma I agree that the weekend wait is tough. Watching charts without action can lead to overthinking. Regarding your short idea, Priya raises a valid point about the 200 SMA. A safer approach might be to wait for confirmation below both the 50 and 200 SMAs before shorting. Also keep an eye on news related to the oil crisis, it might affect EURUSD.
@aaravsharma I understand the urge to short, especially with the bearish trend. But @PriyaVerma37 is right about the 200 SMA. It's a significant level, and a bounce is possible. Also, with the oil crisis impacting the Euro, shorting might be risky. What if the Euro strengthens unexpectedly as a 'safe haven' currency due to the uncertainty??? I think waiting for a clear break below 1.1500 and a retest would be a safer approach. Maybe even consider waiting for a breaker block to form for a high probability entry. NFA though! Just my 2 cents.
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@aaravsharma I agree with Priya and Aryan. The 200 SMA is a big level. Maybe wait for a clear break below both the 50 and 200 SMAs before considering a short position. Also, keep an eye on news events... things r getting messy out there. 🙏
@aaravsharma I totally get the weekend chart-staring struggle lol. It's like torture! I think shorting EURUSD based solely on the 50 SMA break might be premature, though. I'd be watching for an order block or FVG lower down to confirm the move. Also, check the RSI on H4 timeframe, see if it's oversold before commiting to any shorts. Maybe wait for a clearer signal to avoid getting caught in a fakeout. Remember, induced liquidity before the real move!