@christopher1992 on EURUSD | PriceONN Community
Hey everyone! New to EURUSD trading, and I'm trying to figure out the best entry point for a buy. The price is kinda close to the 200 SMA, right around 1.1853ish. Is that a good sign for a potential bounce? What do you guys think, should I wait for a confirmation or jump in now? Any advice would be awesome!
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Update: So, I was looking at the RSI too, and it's like, almost neutral, around 48. That doesn't really give me a strong signal either way, does it? Maybe I should wait for it to get closer to oversold before buying? Or maybe look at some other indicators? I'm also wondering if the news this weekend will have a big impact. I'm seeing some talk about potential volatility. I'm trying to play it safe tbh, don't want to lose too much too fast! Also, is my TP too ambitious if I set it at 1.1880? Thnk it will hit?
W
@christopher1992, be cautious jumping in based solely on the 200 SMA. Wait for a clearer signal, like a bullish candlestick pattern, to confirm the bounce before entering a long position. It's always better to be safe!