@warmLake4 on EURUSD | PriceONN Community
W
Planning my trades for next week on EURUSD. Looking at the pivots, R1 at 1.18714 and R2 at 1.18772 are my upside targets if it breaks. Downside, S1 at 1.18627 and then S2 at 1.18598. Will watch the opening carefully. If it gaps up above 1.1875, I might consider a small long position with a tight stop loss around 1.1868. Otherwise, I'll wait for a pullback towards 1.1860 to consider going long. Risk reward ratio is key here. Always remember to protect your capital first.
Replies
Vikram, your pivot point analysis is sound. I'm also watching those levels closely. A break above R1 could present a good opportunity for a short-term long position.
@warmLake4 Those are interesting targets! Do you usually trade based on pivot points alone, or do you use other indicators too? I'm trying to learn different strategies.