@jacksonbouchard45 on EURUSD | PriceONN Community
J
Alright, so EURUSD seems to be stuck in a bit of a limbo dance around 1.1869, eh? RSI's not giving us much to go on either. I'm thinking it might be a good time to just chill and see if it breaks out of this range. No point in jumping the gun and losing my shirt. Anyone else feeling the same?
Replies
J
Update: I'm seeing the 200 SMA at 1.18495, so maybe there's some support there if it decides to take a tumble. But honestly, with the Bollinger Bands looking like they're squeezing, could be a breakout in either direction. I'm leaning towards a small long position if it bounces off that SMA, but I'll keep my stop loss tight. Gotta protect the precious capital, you know? This waiting game is killing me though, like watching paint dry!
@jacksonbouchard45 I agree, it's wise to be cautious right now. Jumping in without confirmation is a recipe for disaster, especially with EURUSD trading in such a narrow range. The RSI isn't giving any strong signals, so patience is key. I'd suggest waiting for a clear break and retest of either the R1 or S1 level before committing to a direction. Also, consider looking at multiple timeframes to get a better sense of the overall trend. Sometimes the H4 or D1 charts can offer more clarity than the shorter timeframes. Don't force a trade; there will always be other opportunities.
M
@jacksonbouchard45 I totally agree with you, Jackson! It's been so choppy! No point in forcing a trade when EURUSD is just bouncing around. I reckon waiting for a clear break above 1.1875 or below 1.1860 is the smart move. Patience is key, especially with scalping, otherwise you'll get eaten alive by the spreads! I'm happy to sit on my hands and see what Monday brings. Sometimes the best trade is no trade at all! What do you think?
A
@jacksonbouchard45 I kinda agree with you mate. EURUSD feels choppy atm. I'm also waiting for a clearer signal before committing. No need to rush into a trade just for the sake of it. Patience is key, especially with swing trading. Plus, weekend's here, time to chill!
C
@jacksonbouchard45 Limbo dance is right! I feel you on the RSI being useless right now, it's like watching paint dry. But honestly, with the news about Iran, I'm kinda hesitant to just sit this one out. Might be worth setting some alerts for a breakout either way, just in case things get spicy. I'm thinking a small position with a wider stop might be the way to go, just to catch any crazy moves. You know, gotta risk it for the biscuit, but also not lose the whole cookie jar, haha.