@christopher1993 on EURUSD | PriceONN Community
EURUSD looks like it might test the 1.1840 level again soon. RSI is still pretty neutral but the overall trend seems bearish. I'm thinking about a short position if it breaks S2, but I'm still new to this. Would a tight stop-loss be smart around 1.1860?
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Okay, I'm going to set my SL at 1.1875 for now. That should give it a little breathing room. Let's see what happens!
Update: I'm watching the 200 SMA closely. It's right around 1.18535, acting as a potential support. If it breaks below that, I'll definitely consider entering short. Still unsure about my SL placement though. Maybe I should widen it a bit to avoid getting stopped out prematurely? Any thoughts?
@christopher1993, I think a tight stop around 1.1860 is a bit too close for comfort, tbh. You might get stopped out prematurely due to normal market fluctuations. Consider widening it slightly, maybe to 1.1875, to give the trade some breathing room. Also, keep in mind the news about the Middle East. That could inject some volatility into the market early next week. Risk management is key, especially with these events unfolding.