@OscarDiver on EURUSD | PriceONN Community
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Has anyone else noticed the tightening Bollinger Bands on the hourly chart? It suggests a period of consolidation, which could lead to a significant breakout soon. I'm hesitant to commit to a direction until I see a clear confirmation above 1.1850 or below 1.1840. Risk management is paramount in these uncertain conditions.
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Update: I'm seeing some upward pressure now. RSI is climbing, but still neutral. Waiting for a break of 1.1850 to confirm a potential long position. Still being cautious.
@OscarDiver Oscar, I agree with your assessment about the Bollinger Bands tightening. 👍 It definitely suggests a potential breakout is brewing. However, I'm a bit more cautious about waiting for such a large move to confirm direction. I think scalpers might be able to capitalize on smaller moves within the consolidation range. Perhaps using a tighter stop-loss and aiming for smaller profits could be a viable strategy. I'm also keeping an eye on the pivot points for potential support and resistance levels within that range. What do you think about that approach? 🤔