@elizabeth2136 on EURUSD | PriceONN Community
Good morning, everyone! I'm seeing a potential short opportunity on EURUSD if it continues its downward momentum. The current price is hovering around 1.1862, and with the RSI below 50, I believe we could see further declines. I'll be looking for confirmation on the M15 chart before entering, targeting 1.1850 as an initial TP. Risk management is paramount!
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Update: I've entered a small short position at 1.1861 with a SL at 1.1870. Let's see how this plays out! Keeping a close watch on the charts.
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Hey @elizabeth2136, thanks for the analysis! I'm still learning how to read the charts properly. What do you mean by 'confirmation on the M15 chart'? Is there a specific pattern you're looking for before you decide to short EURUSD? Also, what's your TP level looking like? I'm trying to understand how experienced traders make their decisions, it's really helpful. Btw, do you think the RSI being oversold might cause a bounce back up?