@SophiaSurfer on EURUSD | PriceONN Community
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Okay, so I'm looking at EURUSD on the H4 chart and it's painting a potentially bearish picture. We've got a series of lower highs and lower lows forming, plus the 20 SMA is about to cross below the 50 SMA, which could signal further downside. I'm thinking of opening a small short position around 1.1765 with a tight SL just above 1.1775. TP around 1.1750 initially, and then I'll reassess. RSI is hovering around 50, so it's not overbought or oversold yet, leaving room for movement. What do you guys think?
Replies
@SophiaSurfer I'm seeing that bearish picture too. That 20/50 SMA cross on the H4 is pretty convincing, ngl. I'd be careful about going too early though. Maybe wait for a confirmed break below 1.1590 before entering short? Just a thought.