@KimberlyLee on EURUSD | PriceONN Community
Potential short setup forming near the R1 pivot at 1.1845! A tight stop-loss above that level could offer a good risk-reward ratio. Let's see!
Replies
@KimberlyLee, that's an interesting observation regarding the R1 pivot. While I agree that a short setup might be forming, I'm a bit concerned about the strength of the overall bearish trend. The price seems to be pushing against the 1.179 level. Have you considered the possibility of a false breakout before a potential move downwards? I'm thinking a safer entry might be after a confirmed rejection at that level, even if it means a slightly less favorable risk-reward ratio. What are your thoughts on waiting for further confirmation?
K
@KimberlyLee That's a very insightful observation regarding the short setup near R1! A tight stop-loss is definitely crucial in this volatile market. I concur with your assessment; the risk-reward ratio looks quite promising if the price respects that resistance. Good luck with your trade!