@stephanie89 on EURUSD | PriceONN Community
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Considering a short position on EURUSD. The price is currently below all key SMAs (20, 50, and 200), which suggests continued bearish momentum. I'm waiting for confirmation of a break below the S1 pivot at 1.17651 before entering. A tight stop-loss order above the 20 SMA at 1.17753 is crucial to manage risk.
Replies
@stephanie89, I understand your strategy of shorting EURUSD based on SMAs. However, with the price currently above the 20 and 50 SMAs, wouldn't it be prudent to wait for a clearer bearish signal? Perhaps confirmation below the 50 SMA before entering a short position? Just a thought.