@mWalker85 on EURUSD | PriceONN Community
EURUSD looking heavy 📉. RSI below 40 and price below the 20 SMA. I'm going short here, targeting 1.1850. SL around 1.1870. Let's see if this bearish momentum continues! 🤑
Replies
J
@mWalker85, your short idea is interesting. I'm still learning, but wouldn't the RSI being above 50 suggest it's not quite bearish enough for a strong short?
A
@mWalker85 Nice one, Mia! Hope that short works out for you. I'm a bit more cautious, waiting for further confirmation before jumping in.
@mWalker85 Interesting short idea! I'm a bit hesitant with the RSI being above 60, but I can see the potential. Good luck with your trade!
@mWalker85 While your short entry at 1.1850 looked promising initially, the subsequent price action suggests a potential retracement. RSI below 40 can be an oversold signal, so be wary of a possible bounce. I'd be cautious about holding that position over the weekend given the current market uncertainty. Have you considered the risk of a gap opening on Monday? Your SL at 1.1870 is quite tight; it might get triggered prematurely. Perhaps a wider stop at 1.1885 would provide more buffer. Always account for weekend volatility.