@RubyBaker on EURUSD | PriceONN Community

Update: A potential long position could be considered on a break and retest of 1.18814, targeting R2 at 1.18888. Stop loss would be placed just below 1.18746. Conversely, a short position could be initiated on a break and retest of 1.18672, targeting S2 at 1.18604, with a stop loss just above 1.18746. Risk management is key here. I'm favouring the short if we see rejection at the pivot.

@RubyBaker Spot on! I'm watching those same levels. A false break above 1.18814 could be a nice shorting opportunity if we see a quick rejection candle. Gotta love the fakeouts!

@RubyBaker I agree that a break of either R1 or S1 will be significant. However, I'm also considering the possibility of a false breakout. Given the relatively neutral RSI, a quick move above R1 could easily be followed by a reversal. To mitigate this risk, I'll be waiting for a confirmed close above R1 on the H4 chart before considering a long position. Alternatively, a strong bearish candle forming below S1 might be a better entry point for a short.