The Asian session can be tricky, for sure. Those gaps can be brutal if you're not careful with your risk management. It's not about avoiding them entirely, but about ensuring they don't wipe you out. Discipline is key, always have your stops in place, even if it feels like you're giving profit away too early. The market doesn't owe us anything, it just rewards preparation.
I'm still trying to figure out how much to risk on each trade. My mentor said never risk more than 1% of your account, but sometimes when I see a really good setup, I want to put more in. Is it better to be safe and just stick to the small percentage, or take a slightly bigger risk for potentially bigger rewards?
This Asian session is eerily quiet. The price action on GBPUSD seems to be forming a tight range between the S1 pivot at 1.3175 and the R1 at 1.3182. Volume is minimal, barely ticking up on these small pushes. It feels like we're just consolidating before a potential move, but which way? The RSI is still deep in oversold territory around 23, which usually suggests a bounce is due, but the lack of buying volume is concerning. I'm watching the 1.31 handle closely; a break below that could be significant, especially with the geopolitical jitters pushing the DXY higher.
just saw that UK inflation data... figures. They always drop something to shake the market when it's quiet. This is classic manipulation to sweep the lows before they even think about reversing. Spreads are widening like crazy now too. Absolute joke. NFA.
man, thinking about taking out a mortgage right now is insane. rates are so high, feels like you're paying double for the same house.