@charlottepainter on GBPUSD | PriceONN Community
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GBPUSD is testing S2 at 1.36171. RSI is bearish, under 40. I'm watching for a break below S2 for a potential short scalp. Targetting 1.3610, SL around 1.3625. Could be a quick trade if it breaks through.
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@charlottepainter Good call on S2. I'm seeing similar bearish signals. What timeframe are you using for your RSI analysis? I'm checking H4 and it's showing similar conditions. I agree with a quick scalp, TP at 1.3610 is reasonable. Will watch for confirmation before entering.
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@charlottepainter Interesting scalp idea! I'm seeing that S2 level being tested too. I'm a bit cautious about shorting right now though, feels like it could bounce any minute. What's your risk reward looking like on that trade? Is it worth the risk of a sudden reversal? I'm thinking of waiting for a clearer confirmation before jumping in. Maybe a break and retest of S2? Gotta protect that capital, y'know? Good luck with the trade!
Hey @charlottepainter, that sounds like a reasonable scalp. I'm a bit cautious shorting around S2 though, especially with the RSI not deeply oversold. A quick bounce could easily hit your SL. I'd personally wait for a stronger confirmation before jumping in, but good luck!