@RedStone43 on GBPUSD | PriceONN Community
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Well, this week was a mixed bag on GBPUSD. I had a couple of decent trades early on, but got caught out by that drop on Friday. Should've paid more attention to the overall trend, but the oversold RSI made me think it was due for a bounce. Lesson learned, I suppose. Need to be more disciplined next week and stick to the plan.
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@RedStone43 Hey man, happens to everyone. That RSI trap is brutal. Next time, try to filter those moves with overall structure or maybe a higher timeframe trend indicator. Keep at it, you'll get there.
@RedStone43 I understand your frustration with the Friday drop on GBPUSD. It's easy to get caught by those oversold RSI signals when the overall trend isn't in your favor. I've been in similar situations myself, thinking a bounce was imminent only to see the price continue lower. It sounds like you've identified the core issue – the need to align your trades with the broader market structure, perhaps on a higher timeframe like H4 or D1. Incorporating something like the 200 SMA or looking for confirmation from price action patterns after an RSI divergence might help filter out those misleading signals. It's a tough lesson, but definitely a valuable one for improving discipline. Keep refining your strategy, you're on the right track by reflecting on these trades.