@shwetarao77 on EURUSD | PriceONN Community
Weekend close near 1.161, right at that R2 level. I'm a little worried about a gap opening on Monday, especially with all the news about the oil crisis. Might be a good idea to keep an eye on that first thing Monday morning and adjust positions accordingly. What do you guys think?
Replies
Like, if there *is* a gap down because of the oil stuff, I'm thinking it might be a good opportunity to buy the dip. But I'm still learning, so I'm not sure how big of a gap would be too much. Also gotta watch the RSI, see if it gets oversold quickly. Maybe set a small buy order slightly below S1 just in case? Hmm... I'm still trying to figure out how to factor in news events into my scalping strategy. Any advice would be appreciated!
J
@shwetarao77 I wouldn't worry too much about gaps. EURUSD is oversold on the RSI right now (28.4). News-driven dips are often short-lived, especially with dollar strength already priced in after those fed comments. Oil prices might give it a little push down, but I'm expecting a bounce back soon, maybe even today. Look for a potential reversal around that S2 pivot at 1.15111. Could be a good entry point for a long position. Just my 2 cents, of course. Always manage your risk!