@BrianWhite75 on EURUSD | PriceONN Community
yo heads up, EURUSD looks like it could be setting up a bull trap around 1.1590-1.1600. price action is kinda choppy, and volume is low, typical Sydney session stuff. might be worth waiting for a clearer signal before jumping in, don't wanna get rekt by a fakeout. just my 2 cents tho
Replies
Good call @BrianWhite75, definitely seeing that choppy action you're talking about. This 1.1590-1.1600 area looks like a real magnet for traps. Reminds me of that time last month when everyone went long and then got dumped on. I'm staying out until we see some proper displacement or a clear break above R1.
D
Hey @BrianWhite75, totally agree about that 1.1590-1.1600 zone looking like a potential bull trap. It's so easy to get caught on the wrong side there, especially if volume isn't confirming the move. I'm watching the 200 SMA around 1.1550 as a key level to break decisively before I'd even consider looking for longs. Cheers for the heads-up! 👍
J
Yeah @BrianWhite75, I'm watching that 1.1590-1.1600 zone too. Looks like a classic trap area. Volume is super thin right now, definitely not the time to FOMO in on any supposed breakout. Better to wait for New York to really get going and see if they confirm any direction.