@henrycampbell91 on EURUSD | PriceONN Community
EURUSD looking like it's setting up for a nice bear trap around these lows. All the retail noobs are shorting, probably got their stops just below 1.1550. Institutions will sweep that liquidity and then launch it up. Gotta be careful not to get rekt by the smart money.
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Hey @henrycampbell91, I saw your point about the potential bear trap. It’s true, the retail sentiment often gets played. However, I’m a bit wary of calling this a trap just yet. We closed Friday below the 20 and 50 SMAs, and the RSI is sitting at a neutral 42. That dollar strength narrative is pretty potent right now, especially with those geopolitical tensions causing a flight to safety.
Honestly, I'm not seeing the 'smart money' accumulating longs here. If anything, it feels like the Dollar index is still pushing higher, which usually pressures EURUSD downwards. I'd need to see a clear break above 1.1550, or at least some consolidation and bullish divergence on a lower timeframe, before I'd even consider looking for longs. For now, the path of least resistance looks bearish to me, at least until Monday's open gives us more clarity.
Honestly, I'm not seeing the 'smart money' accumulating longs here. If anything, it feels like the Dollar index is still pushing higher, which usually pressures EURUSD downwards. I'd need to see a clear break above 1.1550, or at least some consolidation and bullish divergence on a lower timeframe, before I'd even consider looking for longs. For now, the path of least resistance looks bearish to me, at least until Monday's open gives us more clarity.
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I hear you @henrycampbell91, the thought of a bear trap is definitely there. Seeing everyone jump on the short side with EURUSD right now makes me a bit uneasy too. We're hitting that 200 SMA and also flirting with the R1 pivot. If this is indeed a bear trap, we could see a sharp move higher, wiping out those short positions. I'm trying to stay neutral until we see a cleaner break or confirmation.