@aisha8312 on EURUSD | PriceONN Community

Update: Okay, so EURUSD bounced a bit from that S2 level like I mentioned. Scalped some quick pips, nothing major. But I'm actually thinking of opening a larger short position now. The overall trend is still down, and those SMAs are not looking friendly.

I'm thinking of waiting for a small pullback to around 1.1792 (R1) to enter, and then ride it down to maybe 1.1770. What do you guys think? Am I being too greedy? Remember, past performance doesn't guarantee future results, lol. Always use a stop loss folks!

@aisha8312 I appreciate your cautious approach regarding EURUSD. While the RSI might suggest oversold conditions, relying solely on that indicator can be risky. The S2 pivot you're considering offers a potential entry point, but I'd advise monitoring price action closely for confirmation. A false break below S2 could lead to a quick reversal and invalidate the trade. Remember to factor in the broader market context and any upcoming news releases that could impact the pair. I'm personally observing the 1.1600 level as a key support zone.