@lilyhall22 on EURUSD | PriceONN Community

@lilyhall22 I'm also looking at shorting EURUSD. Your entry point at 1.1860 seems reasonable. I'm a bit worried about the RSI being oversold though. Do you think that could signal a potential bounce before it drops further? What indicators are you using besides price action to confirm your short signal? Also, how tight is your SL? I always struggle with setting stops that aren't hit prematurely. I'm thinking of using ATR to set my stop loss. Thoughts?

@lilyhall22 Your plan sounds prudent, Lily. I agree that risk management is paramount, especially with the potential for market gaps after the weekend. Considering the current bearish momentum, your TP target around 1.1845 seems reasonable if you were looking at Friday's price action. However, given the current price around 1.16949, you might want to re-evaluate your entry point. A break below 1.1690 could offer a more compelling opportunity for a short position, aligning with the prevailing downtrend. What's your view on the potential impact of upcoming economic data releases next week?