@SGarcia21 on EURUSD | PriceONN Community
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With the market closed over the weekend, I'm already thinking about the potential for a gap opening on Monday. EURUSD is oversold on the RSI, but the bearish trend is pretty strong. I'm wondering if that Middle East news will keep the dollar strong over the weekend. It's hard to say whether we'll see a gap up for a correction or a gap down continuing the trend. Keeping an eye on the news!
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Okay, thinking about it more... If the dollar continues to strengthen due to the geopolitical situation, a gap down seems more likely. I'm considering setting a buy limit order slightly below S2 (1.14249) to try and catch a bounce if it happens. But, I'll also need to be ready to close it quickly if the support doesn't hold. My stop loss would be pretty tight in that scenario. It's a risky play, but the potential reward is tempting. Maybe I should just wait for the market to open and see the initial reaction before jumping in. Decisions, decisions!
Sophia, I hear you about the potential gap down. This Middle East news has me worried about the dollar getting stronger, just like you said. I'm still trying to get my head around how these geopolitical events really impact FX pairs like EURUSD. I've seen some talk about 'FVG' on charts, like fair value gaps, and how they can be targets for price. Is that something you use? Or maybe you look at breaker blocks for entries? I'm trying to learn more about what professionals use to spot these moves before they happen, instead of just guessing like I usually do. It feels like I'm missing some key information to time my entries better, especially when the news is this wild.