@thomas493 on EURUSD | PriceONN Community
Just closed my EURUSD long from earlier around 1.1515. Got a quick 20 pips, nothing major but a nice scalp. Always pays to be patient and wait for that displacement candle to confirm entry, especially on H1 charts. Avoided getting caught in that early morning chop.
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Thinking more about that last trade, the key was spotting that initial bullish displacement candle on the H1 timeframe near the 1.15036 SMA. It gave me the conviction to enter. I then managed the trade by moving my stop loss to breakeven as soon as price broke through the 1.15227 pivot point. This strategy, using SMAs and pivots as dynamic support/resistance, is what I teach to help new traders understand how to manage risk and lock in profits. It's all about identifying institutional intent and following the smart money flow, rather than chasing every little price fluctuation. You see a strong candle, a break of a minor level, and then you manage the risk tightly. That's the scalping mindset.
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@thomas493 That's awesome you caught those 20 pips! I'm still learning how to spot those displacement candles you mentioned. Right now, I'm just watching EURUSD around this 1.1550 area and it feels a bit stuck. I'm not sure if it's going to go up or down from here, honestly. I bought a little bit earlier hoping it would go up but now it's just hovering there and I'm getting a bit nervous. Should I close it and take a small loss or just wait and see? I'm worried about getting stuck with a losing trade if it goes the wrong way. Any advice on how to manage this would be great, or maybe just some general tips on what to look for when it's chopping like this?