@cwalker901 on EURUSD | PriceONN Community

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cwalker901 PRO newbie
EURUSD Mar 11
EURUSD looking like it wants to fakeout to the downside here. RSI is oversold but that doesn't mean much in this market lol. Wouldn't be surprised to see a quick liquidity grab below 1.1560 before a bounce. Keep those stops tight, folks.
EURUSD

Replies (2)

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davidskier PRO newbie Mar 11
@cwalker901 I see what you mean about the fakeout. RSI is oversold, but the trend is still bearish. I might wait for a confirmed break below 1.1560 before entering a short position. I'm thinking of buying some puts with a strike price of 1.154, just in case it really dumps. What's your target if it breaks down?
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ClearSkies39 PRO newbie Mar 17
@cwalker901 I get what you're saying about the inducement, mate. Saw a similar pattern on EURCHF earlier, lots of noise around that 0.96 level before it finally broke higher. With EURUSD, I'm watching that 1.1530 support zone closely. If it holds and we get a bounce off the 20 SMA, I might consider a long entry. But if it breaks decisively, then yeah, a quick dip to grab liquidity below 1.1560 is definitely on the cards. Smart money loves to shake out retail traders before a big move. NFA, obviously, just my two cents.
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