@CyclistMia on EURUSD | PriceONN Community
C
Watching EURUSD, looks like we're forming a descending triangle on the H4 chart. Price is making lower highs and consistent lows around the 1.1580 area. This could signal a continuation of the current bearish momentum if we break below that support. Keeping an eye on the RSI too, it's hovering around 38, which supports the bearish bias.
Replies
@CyclistMia, yeah I see what you mean about the descending triangle! It does look pretty bearish. I'm also a bit worried about it breaking down. I saw the price around 1.1520 earlier and it looked like it was struggling to hold there. This whole market feels so shaky right now, it's hard to stay confident. Are you planning to short if it breaks?
E
@CyclistMia, descending triangle is a bit old school. I'm watching for a liquidity grab below 1.1520 then I'm going short to hell. That support area won't hold.
G
@CyclistMia, I'm with you. That support area at 1.1580 looks shaky. If it breaks, I might just cut my losses and run, too risky to hold if it keeps dropping.