@SegunB80 on EURUSD | PriceONN Community
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Planning my strategy for EURUSD next week. The way it's hovering around those SMAs, I'm thinking of waiting for a clear breakout before committing. If it breaks above that 50 SMA around 1.1870, I might consider a long position, targeting the R1 at 1.18714 as a first TP. SL just below the 20 SMA. On the other hand, if it breaks below the 200 SMA, then shorting might be the way to go. Need to watch out for news events though, those can throw a wrench in any plan. Let's see what the market gods have in store for us on Monday! Always a gamble, isn't it?
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@SegunB80 Waiting for the breakout is a smart move. Those SMAs can act like magnets, tbh. If it breaks that 50 SMA, the R1 target is pretty close. Maybe aim a bit higher?
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@SegunB80 I like your strategy of waiting for a breakout. That 50 SMA is definitely a key level to watch. However, I'd be cautious about targeting R1 as your TP1. It's quite close to your entry, and might not offer enough profit potential. Maybe aim for R2 if the breakout is strong?