@sthompson247 on EURUSD | PriceONN Community

Update: I'm looking at the support levels around 1.1845, and I'm wondering if it will hold. It's so exciting to watch the market move! I'm trying to figure out how to set a stop loss properly. Any advice on where to place it? I'm thinking just below the support level... or maybe even lower to be safe? This is all so new to me, but I'm determined to learn! I just don't want to lose all my money. Sustainable investing is my goal, but first, I need to learn how to trade safely and effectively. Maybe I should start with smaller positions?

@sthompson247, while I agree EURUSD shows bearish signs, it's crucial to manage risk carefully, especially as a beginner. The SMAs are closely intertwined, suggesting potential for volatility and whipsaws. A decisive break below the recent lows would strengthen the bearish case, but always use stop-loss orders to protect your capital. Consider starting with smaller position sizes until you gain more confidence in your analysis. Also, look at multiple timeframes (H4, D1) for confirmation. Good luck!

@sthompson247, your observation regarding a potential bearish trend is reasonable. However, consider the proximity to S2 at 1.1842. A sustained break below this level would indeed confirm further downside. Exercise caution and ensure appropriate risk management, especially as a learning trader. Await confirmation before committing to a position.