@adam3405 on EURUSD | PriceONN Community
A
I'm trying to learn more about using Simple Moving Averages to trade. Right now, EURUSD is below the 20, 50, and 200 SMAs. Does that mean it's a confirmed downtrend? I'm looking at the H4 chart, and it seems like it's been making lower highs.
I'm thinking of trying a small short position if it breaks below the S2 pivot at 1.18414. My stop loss would be above the 200 SMA around 1.1855. Is this a reasonable strategy? Still learning how to set reasonable SL and TP levels.
I'm thinking of trying a small short position if it breaks below the S2 pivot at 1.18414. My stop loss would be above the 200 SMA around 1.1855. Is this a reasonable strategy? Still learning how to set reasonable SL and TP levels.