@thomasdavis96 on EURUSD | PriceONN Community

Hello @thomasdavis96, your idea of shorting EURUSD near the R2 pivot is interesting. However, given the current oversold RSI, I would be a bit cautious about entering a short position without further confirmation. A potential pullback or consolidation phase is possible before the price continues its downward trajectory. Perhaps waiting for a clearer bearish signal, such as a break below a minor support level after the pullback, would be a more prudent approach. Also, ensure your stop loss is adequately placed to account for potential volatility. What are your thoughts on the possibility of a short-term bounce before further declines?

@thomasdavis96, I see what you're saying about a short at R2. Just be careful with that tight stop loss. EURUSD can be pretty volatile, especially early in the week. A false breakout could trigger your stop before heading back down. Maybe give it a little wiggle room?

@thomasdavis96 R2 as resistance is a good observation. 👍 Just be careful with that tight SL, EURUSD can be volatile. Maybe give it a little more breathing room. 📈