@shweta5669 on EURUSD | PriceONN Community
I am observing the current bearish trend in EURUSD with interest. The RSI(14) at 32.4 suggests oversold conditions, but the price continues to decline. I am considering a short position if it breaks below the S2 pivot point at 1.17973, targeting a small profit. What are the views of more experienced traders here?
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Update: I've decided to proceed with caution. I will enter a very small short position if EURUSD breaks below 1.1795. My stop loss will be tight, just above the S1 pivot at 1.1803. I am aiming for a quick profit of 5-10 pips. Let's see how this plays out. I am new to scalping, so this is mostly an experiment.