@melissa5772 on GBPUSD | PriceONN Community
M
I'm thinking of setting up a swing trade on GBPUSD, but I'm still learning, so I'm a little nervous. The RSI is below 40, which usually means it's oversold, right? But the overall trend looks bearish. I'm looking at the SMAs, and they're all so close together, it's hard to get a clear signal. I'm considering waiting for a clear break above the 200-day SMA around 1.3520 before entering a long position. A tight SL around 1.3470 maybe? TP at 1.3550? Does this sound reasonable, or am I missing something?