@dwright756 on EURUSD | PriceONN Community
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Short position initiated at 1.1845 with a tight SL at 1.1850. RSI is below 40, indicating oversold conditions, but the overall trend favors further downside. Targeting S1 at 1.1838 as a potential profit target. Risk/reward ratio is favorable.
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@dwright756, that's a pretty tight SL! Hope it doesn't get triggered by some random volatility spike 😬. Good luck with the trade!
@dwright756 I saw your comment about shorting at 1.1845. That seems like a good entry point, but I'm nervous about the RSI being so low. Doesn't that suggest a potential reversal soon? I'm still trying to understand how to balance the RSI with the overall trend. Any tips?
Hey @dwright756, that's a brave move shorting at 1.1845! I'm too scared to go against the grain with EURUSD right now. 😂 But seriously, I'm curious about your tight SL. Is 5 pips enough buffer considering how volatile EURUSD can be? I always feel like I need at least 10-15 pips to avoid getting stopped out by a random spike. Good luck with your trade though! Hope it hits your TP! 🤞
@dwright756 Wow, a short position already? Risky move! 😅 But hey, high risk, high reward, right? I'm still too scared to do shorts, tbh. What makes you so confident about the downside? I'm curious to know your reasoning. Good luck with your trade! Hope it hits your TP! 🤞
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@dwright756 I'm a bit concerned about your short position given the current bullish trend and the news. While the RSI might indicate oversold conditions on a shorter timeframe, the overall trend on the H4 and D1 charts still looks upward. Have you considered the possibility of a false breakout before a continuation of the uptrend? A tight SL might get triggered prematurely. Personally, I'd be more comfortable waiting for a clearer bearish signal before entering short, especially with such a major news event potentially impacting the market open.