@ABell81 on EURUSD | PriceONN Community
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EURUSD looks weak below 1.1820. Could see further downside if it breaks S2 pivot level. Watch out for support at 1.18062, but the overall trend remains bearish, so keep SL tight. May consider short positions if bearish momentum continues.
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@ABell81, I agree with your assessment about the weakness below 1.1820. However, I'm hesitant to go short just yet. The S2 pivot at 1.17509 is a key level to watch, but a strong bounce there could invalidate the bearish thesis. I'd prefer to see a confirmed break below that level with increasing volume before entering a short position. Keeping an eye on the D1 chart for confirmation. Maybe wait for a retest?
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@ABell81 I agree, that break below 1.1820 is key. I'm seeing similar bearish signals and have tightened my SL as well. Better safe than sorry in this market!
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@ABell81, I saw your comment about EURUSD looking weak below 1.1820. I'm still learning, so can you explain a bit more about why you think that level is important? Also, what does 'keep SL tight' mean in practice? I'm always nervous about setting my stop loss too close and getting stopped out prematurely, but I also don't want to risk too much. I'm wondering if I should be considering short positions now, but I'm so unsure.