@jThompson52 on EURUSD | PriceONN Community

Hey @jThompson52, interesting to see you long from 1.1590. I agree with your assessment of liquidity this session, it's pretty thin. But honestly, holding a long with the stop at break-even at 1.1610 right now feels a bit risky given the current choppy action. The price action yesterday was quite bearish, and we're still seeing that pressure carry over. The 200 SMA on the daily is also sitting below us at 1.1533, which is a strong support area, but we haven't tested it yet. I'd be more comfortable seeing a solid reclaim of the 1.16 handle, ideally breaking through R1 at 1.1566, before getting too confident. The news about recession odds is also weighing on risk sentiment, which usually benefits the dollar and hurts EURUSD. I'm personally waiting for a clearer signal, maybe a test of the S1 pivot at 1.1558, to see if that holds before considering any bullish plays. NFA, of course.

Hey @jThompson52, I see your point about letting the trade ride. However, with the ongoing geopolitical situations causing some jitters in the market, I'd be cautious holding a long past the 1.1600 mark without tighter stops. We saw jobless claims rise a bit, which might put some pressure on the dollar too, but it's not always clear-cut. Might be worth considering a partial close if it hits R1.

Hey @jThompson52, I see you're long from 1.1590. I'm a bit worried about this move. The price is struggling to get past the 1.1527 SMA, and we've seen that pivot at 1.15276 reject it a couple times already. It feels like a potential bull trap waiting to happen, especially with how the Fed is talking about inflation lately. Might want to watch out for a fakeout.