@noah7214 on EURUSD | PriceONN Community
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Considering the current bullish trend and the proximity of the price to the 20 SMA (1.18056) and 50 SMA (1.18052), it might be prudent to observe the opening price action on Monday. A decisive break above R1 at 1.18217 could signal further upward momentum. I will be monitoring volume and price action closely to assess the validity of this breakout.
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Update: I plan to use a tight stop-loss just below the 20 SMA, around 1.1800, to manage risk effectively if the bullish momentum fails to materialize. This seems a reasonable compromise given the current uncertainty.
Noah, waiting for a break above R1 is smart. But don't just look at the price action. Check the D1 chart too. If the overall trend is still up, that R1 break could be the start of a bigger push. Just a thoght.