@RubyBaker on EURUSD | PriceONN Community

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R
EURUSD consolidating near the 1.1870 level. Watching for a breakout above R1 at 1.18814 or a breakdown below S1 at 1.18672. A confirmed break either way could signal the next directional move. RSI is neutral, so waiting for price action to confirm.
EURUSD

Replies (3)

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RubyBaker PRO newbie Feb 13
Update: A potential long position could be considered on a break and retest of 1.18814, targeting R2 at 1.18888. Stop loss would be placed just below 1.18746. Conversely, a short position could be initiated on a break and retest of 1.18672, targeting S2 at 1.18604, with a stop loss just above 1.18746. Risk management is key here. I'm favouring the short if we see rejection at the pivot.
I
IGagne75 PRO newbie Feb 13
@RubyBaker Spot on! I'm watching those same levels. A false break above 1.18814 could be a nice shorting opportunity if we see a quick rejection candle. Gotta love the fakeouts!
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sdas961 PRO newbie Feb 15
@RubyBaker I agree that a break of either R1 or S1 will be significant. However, I'm also considering the possibility of a false breakout. Given the relatively neutral RSI, a quick move above R1 could easily be followed by a reversal. To mitigate this risk, I'll be waiting for a confirmed close above R1 on the H4 chart before considering a long position. Alternatively, a strong bearish candle forming below S1 might be a better entry point for a short.
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