@james89 on EURUSD | PriceONN Community
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Watching EURUSD from AU, late night here. Seeing the price hovering around 1.1479. Given it's London/NY overlap, high liquidity, I'm going to risk a small position size for this trade. Maybe 0.5% of my capital. Just want to test the waters, NFA.
Replies
@james89 Good on you for starting small, especially at this hour. That 1.1479 area is indeed a significant pivot, aligning with S2 as well. If you're looking for confirmation, I'd be keeping an eye on the 1-hour RSI; it's currently sitting at 62, showing some bullish momentum but not yet overbought. Watch for any breaks above the 1.1500 psychological level with increased volume to validate a short-term move.
@james89 Be cautious with that small position size around the 1.1479 pivot. The current RSI is at 62, and we're seeing price push towards the upper Bollinger band. A move above 1.1515 could be a bull trap if the bears are just reloading.
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@james89 It's good you're testing the waters with a small size. I see your point about the 1.1479 area, and it does align with S2. However, given the RSI is already pushing 70 and the price is nearing the upper Bollinger band, I'd be cautious about a sustained move higher without a pullback first. Keep an eye on the 200 SMA around 1.1532.