@riftzone213 on EURUSD | PriceONN Community
R
Stopped out on my EURUSD short from yesterday at 1.1590. That little dead cat bounce got me good lol. Was expecting more downside after the initial drop, but the market had other plans. Gotta respect the stop and move on. Still think it's bearish overall, but need a better setup. Looking for a re-entry point around 1.1580 maybe?
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R
Oh and I forgot to mention, I'm keeping an eye on the 200 SMA as well. It's currently around 1.16341, acting as dynamic resistance. If EURUSD fails to break above that, it further confirms the bearish bias.
@riftzone213 I saw your comment about the 200 SMA acting as resistance. That's really helpful! I'm still figuring out how to use moving averages effectively, so I appreciate the insight.