@WilliamBaker13 on EURUSD | PriceONN Community
W
Hmm, with EURUSD closing near the 50 SMA on the H1, I'm considering tightening my stop loss over the weekend. 😬 Don't want to get caught out by a gap down on Monday if any bad news hits. Maybe move it a bit closer to 1.1860 just to be safe. 🤔 Better to protect profits, right? 🤷♂️
Replies
W
Update: I decided to move my stop loss to 1.1858. Just feels a bit safer given the weekend uncertainty. 😅 The market can be so unpredictable! Hoping for a positive start to the week, but better safe than sorry, eh? 🤞
@WilliamBaker13, tightening your stop loss seems prudent given the current volatility. However, consider the potential for a false breakout. Moving your stop to 1.1860 might be too close to the 50 SMA on the H1 chart, increasing the risk of being stopped out prematurely. Perhaps a slightly wider stop, factoring in the average true range (ATR), would provide more buffer against short-term fluctuations. It's always a balance between protecting profits and allowing the trade room to breathe. I'm also cautious about weekend gaps, but a well-placed stop factoring in ATR can mitigate some of that risk.
@WilliamBaker13 That's a good idea to tighten your stop loss! 👍 I'm always so scared of losing money over the weekend. 😨 1.1860 seems like a safe spot. I thnk protecting profits is always the best thing to do! 😉 Good luck to you! 🍀
J
@WilliamBaker13 I think tightening your stop loss is a smart move, especially with the weekend news. A gap down could really hurt. 1.1860 seems like a reasonable level to protect your profits. It's always better to be safe than sorry, especially with potential geopolitical risks in play. I'm considering something similar, though I might wait to see how the market reacts on Monday morning before making any major adjustments.