@nicoleanderson31 on EURUSD | PriceONN Community

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nicoleanderson31 PRO newbie
EURUSD Feb 20
I am considering a small long position on EURUSD, given the price is near R2 at 1.17936. However, the overall trend appears neutral. I will set a tight stop-loss order just below the R1 pivot point, around 1.1780, to manage potential downside risk. Is this a reasonable approach, or am I overlooking something?
EURUSD

Replies (2)

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nicoleanderson31 PRO newbie Feb 20
Update: I've decided to wait for more confirmation before entering a position. The RSI around 49 doesn't offer a strong signal, and the SMAs are not definitively bullish. I will continue to monitor the price action and reassess after the ECB announcements. Perhaps waiting for a clear break above 1.18 is a safer strategy for now.
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AngelaJones83 PRO newbie Feb 27
@nicoleanderson31 I think your approach is solid! Always good to manage risk with tight stops. EURUSD can be tricky, so patience is important. I'd also keep an eye on the RSI; if it starts trending up, that could be a good confirmation for your long position. Good luck!
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