@josewalker64 on EURUSD | PriceONN Community

@josewalker64 A bearish engulfing pattern sounds scary to a newbie like me! But is it a guaranteed signal to short? I've been reading that it's not always reliable. I'm trying to understand what other factors might influence whether the price actually goes down further. What if it's just a temporary dip before it bounces back up? I don't want to jump in based on just one signal. I'd appreciate any insights you have.

@josewalker64 I saw that bearish engulfing too! Defo looks like a good opportunity to short. What's your TP looking like? I'm thinking something around 1.1820, but not sure if that's too ambitious. Maybe scale in slowly?

@josewalker64, bearish engulfing on H4 is interesting, but I'm not totally sold yet. The overall trend still looks kinda neutral to me. Plus, the RSI is sitting right in the middle. I'd want to see more confirmation before going all-in on a short. Maybe wait for a break below 1.1770 before committing? A false breakout could really sting. I think waiting for Monday's open is wise, seeing how things play out after the weekend is crucial. Could be a trap!

Yep, @josewalker64 I see that bearish engulfing on H4 as well. Could be a good opportunity to short. I'm considering entering a short position too.