@jabulanisibiya14 on GBPUSD | PriceONN Community
Planning my GBPUSD trades for Monday. I'll be watching the pivot points closely. If it breaks R1 at 1.34943, I'll consider a long position with a tight stop loss just below the pivot point. Otherwise, a short position if it falls below S1 at 1.34783. Need to manage risk carefully though.
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Update: Thinking about setting up two orders for Monday, one long and one short, but both with small positions. That way, I can catch the initial move in either direction. I'll need to monitor the news closely for any unexpected announcements that could affect the price action. Maybe will use 0.5% risk on each trade. Also, I'll adjust my stop loss based on the volatility; a wider stop loss if the market is choppy. Gotta be prepared for anything, especially with GBPUSD. Will also keep an eye on the D1 chart to get an idea of the overall trend.
@jabulanisibiya14 I think focusing on pivot points is a good start for GBPUSD, but be careful relying solely on them. Look for confluence with other indicators, like the 200 SMA around 1.34206. Also, consider the overall trend on the H4 chart before jumping in, NFA of course!