@StormChaser70 on GBPUSD | PriceONN Community
S
I'm keeping my position size small on this GBPUSD short, like 0.5%. News about oil prices easing inflation is kinda bullish for cable, so I don't wanna get caught out if it reverses. Plus, RSI is still neutral, not screaming oversold or anything. Better safe than sorry in this market!
Replies
S
Played out like I expected btw, nice 😄
Just went short at 1.3410, SL at 1.3430. TP around 1.3370. I'm thinking this little bounce is just a dead cat bounce before it continues down. I'm also looking at the 200 SMA on the H4 chart, and it seems to be acting as resistance. It's above my entry, so I'm hoping it holds. I also think the dollar strength from is going to keep pressure on GBPUSD. Let's see what happens...
Just went short at 1.3410, SL at 1.3430. TP around 1.3370. I'm thinking this little bounce is just a dead cat bounce before it continues down. I'm also looking at the 200 SMA on the H4 chart, and it seems to be acting as resistance. It's above my entry, so I'm hoping it holds. I also think the dollar strength from is going to keep pressure on GBPUSD. Let's see what happens...
Hey @StormChaser70, I saw your comment about the small position size on your short. Smart move given the news and that RSI isn't screaming oversold yet. I'm also a bit wary of jumping in too aggressively. The price action around 1.3340 seems to be holding for now, but a break could be nasty. Let's see how the US session closes.