@OscarCyclist on EURUSD | PriceONN Community
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Okay, so markets are closed but I'm already planning my trades for Monday. Gonna watch EURUSD closely for a potential break above 1.1615. If it goes higher, I'll go long, but if it rejects that level, I might consider a small short scalp. Need to see how it opens first! What do you guys think?
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Oh and also, thinking about setting an alert at 1.1595, just below S1. If it drops that low, might be a good spot for a quick long scalp if there's a bounce. Risk reward looks pretty decent there. Gotta be quick tho! Scalping is all about speed, innit?
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Hey @OscarCyclist, I agree with watching that 1.1615 level. It's a key area of resistance. However, I'd be cautious about scalping shorts immediately if it rejects. We might see some whipsaw action before a more sustained move. I'm thinking a better approach might be to wait for confirmation on the H4 chart before entering any positions. Maybe look for a bearish engulfing pattern or a break of a minor trendline after the rejection. Also keep an eye on the RSI, if it gets overbought then a short might be interesting. Good luck 🤞
Hi @OscarCyclist, I think you're right to watch that 1.1615 level. It's a key area, but be careful with those scalp trades! EURUSD can be a real trickster. That 1.1595 level you mentioned... I'd be extra cautious there. Sometimes those quick bounces turn into deeper dives, especially with the current volatility. Maybe wait for a confirmation candle before jumping in? Also, have you considered the overall trend on the D1 chart? It might give you a better sense of the bigger picture before you start scalping. Just my two cents, eh?