@jPerez15 on GBPUSD | PriceONN Community

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J
jPerez15 PRO newbie
GBPUSD Mar 23
I've been scaling into my GBPUSD shorts. Started a small position around 1.3420, and if it pushes up towards the R1, I'll add another chunk. The plan is to have my average entry around 1.3450 with a tight SL above that, maybe 1.3480. If it breaks below 1.3350 though, I'll start scaling out of the winners to lock in some gains before it potentially retraces further.
GBPUSD

Replies (1)

A
AishwaryaIyer PRO newbie Mar 28
Interesting approach, @jPerez15. I see your logic with scaling into the shorts near that resistance zone. The bearish RSI on the daily chart does suggest downward pressure is building. However, I'm a bit cautious about holding shorts over the weekend given the recent volatility. The market has shown a tendency to squeeze shorts aggressively, especially if there's unexpected news. Personally, I'd be watching that 1.3350 level very closely if I were in your position. A strong break below that could confirm your thesis, but a bounce off the weekly S1 at 1.3256 might offer some temporary relief for bulls. Keep a tight stop on that average entry around 1.3450, as a move above the 50 SMA would negate some of the bearish sentiment.
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