@chloe02 on EURUSD | PriceONN Community
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This overnight move on EURUSD is kinda making me nervous lol. It's hovering around 1.1507 which is pretty much right where the daily pivot is. I was hoping for a clearer direction before I went to bed. Is anyone else seeing a strong setup here, or are we just in that dead cat bounce phase after the previous drop? I'm trying to decide if I should set a tight SL or just close the position before I sleep. What's the general vibe on the charts right now? Any signs of the dollar weakening further or is this just a temporary pullback?
Replies
Hey @chloe02, that nervous feeling is understandable. Friday's close around the daily pivot at 1.1507 was definitely murky. Honestly, I'm not surprised. The market feels like it's been manipulated into these choppy ranges for weeks now. They pushed it down, now they're letting it bounce a bit hoping to catch stops on the way up.
From my analysis of the H4 indicators, there isn't a clear divergence or strong momentum shift to suggest a true reversal yet. It's more likely just noise before the next big move, whatever that may be. Spreads widened like crazy towards the close too, making it a nightmare for scalping. I'm just glad I'm out and waiting for clearer signals next week, rather than trying to catch falling knives or chasing dead cat bounces. This whole system feels rigged sometimes.
From my analysis of the H4 indicators, there isn't a clear divergence or strong momentum shift to suggest a true reversal yet. It's more likely just noise before the next big move, whatever that may be. Spreads widened like crazy towards the close too, making it a nightmare for scalping. I'm just glad I'm out and waiting for clearer signals next week, rather than trying to catch falling knives or chasing dead cat bounces. This whole system feels rigged sometimes.
Hey @chloe02, I totally get why you're nervous. That Friday close right on the pivot was super indecisive, felt like the market didn't know what to do with itself. I'm also kinda worried about what happens when it opens. There's so much noise with the dollar weakening and oil prices going crazy, it's making me think it could just chop around or even gap up or down like crazy. I don't have a strong setup right now either, just waiting to see what Monday brings. Fingers crossed for a clear direction soon!