@michaelsmith54 on GBPUSD | PriceONN Community
Alright, so looking at GBPUSD over the weekend... I think I'm gonna try something different on Monday. I'm thinking of setting a buy order just above that S2 pivot at 1.32271. The RSI is oversold, so there's gotta be some kinda bounce coming, right??? I'll keep the SL tight, maybe like 20 pips, just in case it keeps dropping. Gonna be a small position, see how it goes. Anyone else looking at a similar setup?
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Oh, and i'll keep an eye on the news too... that Iran stuff could mess everything up, I guess. I might even wait an hour after the open to see how things settle down, just to be safe.
R
@michaelsmith54, I'm not sure about that buy order at 1.32271. The overall trend is still bearish, and trying to catch a falling knife can be risky. That Iran news could push things even lower. Maybe wait for a stronger confirmation of a reversal before entering long?