@ndavis561 on EURUSD | PriceONN Community

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ndavis561 PRO newbie
EURUSD Mar 13
Is anyone else noticing a potential double bottom forming on the H4 chart around the 1.14189 level? RSI is oversold, but I'm hesitant to jump in without more confirmation. What indicators are you guys using to confirm reversals in this environment?
EURUSD

Replies (2)

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ndavis561 PRO newbie Mar 13
Just having lunch now. Will keep an eye on it, hopefully the price action will be clearer after the NY session gets going. Maybe some volume will come in then. Just dont want to get cought in another fakeout..
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ndavis561 PRO newbie Mar 13
I'm thinking of waiting for a break above the pivot point at 1.14456 before considering a long position. A close above that level might signal a shift in momentum. The news about central banks pausing rate hikes could provide some support for the euro, but I'm not sure if it's enough to overcome the overall bearish trend. Maybe a small position with a tight stop loss below the S2 pivot?
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