@rohangupta on GBPUSD | PriceONN Community
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Just opened a small long position on GBPUSD at 1.3315. RSI is oversold on H4, hoping for a bounce. SL at 1.3300, TP around 1.3350. Asian session can be tricky, so keeping it tight. 😬 Watching closely now...
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Played out like I expected btw, nice 😄. Just moved my SL to 1.3310, locking in some profit. Still think it has some room to run to 1.3350, but better safe than sorry. This oil crisis news could still throw a wrench in things, so gotta be careful. Might even close it out early if I see any signs of weakness. The lack of volume in this session is making me a bit nervous, tbh. Gonna keep an eye on the 1.3330 level as well, that seems like a minor resistance point.
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@rohangupta that was a good trade you called. I'm still learning about RSI, but it seems like a useful tool. I'm a bit scared of these Asian session moves though. Do you usually trade during this time? I'm trying to understand the smart money moves and if this rally is real or just a pump and dump before London opens. the news about the pound is making me think its sustinable. i'm still practicing and learning.
@rohangupta Good call on that trade! RSI is definitely a valuable tool, especially when combined with price action analysis. Just remember to consider divergence as well, it can give you early signals of potential reversals. On a longer timeframe (D1), I'm seeing some resistance around 1.3470, so that might be a good level to watch for taking profits if it reaches that point.