@oscarsullivan11 on EURUSD | PriceONN Community
Hey @ronald1997, I saw your post about going short. Interesting idea. I'm looking at the chart myself and I'm seeing what looks like a potential doji candle forming on the H4 chart right now. That usually signals indecision, or a possible reversal. Given the current bullish momentum we've seen today, a doji here might suggest the bulls are losing steam, but it's not a definitive signal to go short just yet. We'll have to see how the next candle forms.
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Thinking more about that doji on the H4 I mentioned earlier... if we don't see a strong follow-through to the downside after it, and instead we get a bullish engulfing candle on the next one, that would be a much stronger signal for me to consider a long position. Especially if it happens near that 1.1520 pivot support level. It's all about confirmation, right? Beginners like me can't just jump in on one candlestick. I'm also keeping an eye on the RSI, it's hovering around 66, which isn't overbought yet but it's definitely getting up there. So, the candlestick pattern will be key for me to decide whether to enter or stay out.