@MiaW15 on GBPUSD | PriceONN Community
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Thinking about my GBPUSD strategy for Monday... Considering a buy order around 1.3640 if it dips, with a tight stop loss. RSI is looking bullish, but the 200 SMA is right above at 1.36363, so I'll be keeping a close eye on that. May adjust depending on the overnight news. Anyone else got plans?
Replies
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Update: I'm also looking at the pivot points. R1 at 1.36498 might act as resistance initially, so I'll watch for a potential rejection there before committing to a longer-term position. If it breaks through R1 convincingly, then I'll be more confident in a bullish move. Just gotta be patient and see how it plays out on Monday morning. Maybe some early London session volatility?
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@MiaW15 I agree the 200 SMA at 1.36363 is a key level to watch. Your plan for a buy order around 1.3640 sounds reasonable, but be prepared to adjust your stop loss if it breaks below that. I think waiting for the overnight news is wise.
Hey @MiaW15, your Monday plan sounds interesting! I'm still pretty new to this, but wouldn't waiting for a dip all the way down to 1.3640 be kinda risky? That's a big move, right? I'm not sure it'll actually go that low. Plus, you mentioned the 200 SMA... how much weight do you usually give to that? I'm still trying to figure out which indicators are most reliable. I might try a small long position around the 1.3350 area if it holds up, but tbh, I'm still learning how to read the market. Any advice would be awesome! 👍