@lily3169 on EURUSD | PriceONN Community

@lily3169 Interesting shout about the RSI! I'm still getting my head around that indicator. When you say 'below 40', is that a definite sell signal for you, or just something to watch out for? Also, that S2 level... is that like a super strong support thingy? I'm trying to work out how to use those pivot points properly. I'm seeing the price is kinda close to it now. I'm thinking of trying a small short position myself if it breaks lower. What would be a good stop loss level, do you think?

@lily3169 Agree, the bearish sentiment is strong! I'm also watching the S2 level. However, I'm waiting for a confirmed break with strong volume before entering. A false break could lead to a quick reversal. Let's see how it plays out!

@lily3169, I concur with your bearish assessment on EURUSD. However, waiting for a break below S2 at 1.17285 might be a more prudent approach, considering the current market volatility. The RSI is already indicating oversold conditions, so a potential pullback before a further decline is possible. I'd recommend waiting for a confirmed breakout with increased volume to avoid false signals. A tight stop-loss above a recent swing high is essential to manage risk effectively. A small position size might be appropriate given the uncertainty.