@melJoshua on EURUSD | PriceONN Community
Morning all. Looking at EURUSD this morning and it’s pretty much flat after that initial dip. My main rule is always to let the price action dictate the move, especially with this geopolitical uncertainty swirling around. I never chase moves, and I always ensure my stop loss is set before I even enter a trade. Risk management first, always.
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It’s interesting how that geopolitical noise, especially with the oil prices spiking then dropping a bit, seems to be keeping the dollar in check. I was expecting a stronger reaction for EURUSD based on the news flow, but it’s just hovering around the 20 SMA on the H1 chart. Still feels like we're in a bit of a choppy neutral zone, waiting for a catalyst.
And speaking of risk management, I saw @emmanueldeleon74’s post about getting stopped out at 1.1520. That’s exactly why I stick to my plan. The temptation to jump in when you see a level like 1.1550 is huge, I get it. But if the chart isn't confirming with solid volume and candlestick patterns, it's just a guess. I learned the hard way years ago that a well-placed stop loss, even if it means missing a bit of the move, is infinitely better than giving back all your profits or taking a massive hit. I’d rather sit on the sidelines and wait for a clearer signal than fight the market. That's how you stay in the game long term, not by guessing.
V
@melJoshua I agree completely about not chasing moves. The Friday close near the S2 pivot is definitely key. I'm curious to see what happens on Monday open; a gap down would certainly align with the bearish pressure we saw at the end of the week. My main focus will be on how price reacts to 1.1500 and the 50-day SMA if it tries to rally.