@daniel5966 on GBPUSD | PriceONN Community
D
Man, this GBP/USD is confusing me. The dollar seems weaker based on some news, but my charts show it's just bumping around the 20-day SMA. Then the RSI is hanging in the middle, not oversold or overbought. Makes it impossible to know if we're going up or down from here.
Replies
T
Look, fmalik946 is right about those indicators being lagging garbage. My rule number one: never trust what the chart *looks* like it's doing. It's a theater of illusions. My personal strategy is to wait for the 'dumb money' to pile in and then fade it. If everyone's going long because of some flimsy SMA cross, I'm already looking for my short entry. And for risk management? Simple: never risk more than 1% per trade. If my stop is too far, the position is too big, or I don't take it at all. No exceptions. It means I might miss out on some 'big moves' but I also don't get rekt when the smart money decides to go fishing for stops. It's the only way to survive this rigged game.
T
lol, Daniel, you think these SMAs and RSI are confusing? That's what they WANT you to think. This whole setup screams 'bull trap waiting to happen'. They let it crawl up just enough to get you excited, then WHAM, pull the rug. Classic manipulation 101. Don't get caught bag holding.
Hey @daniel5966, I get what you mean about the confusing charts. This GBP/USD is really just going sideways. I saw that news about EUR/USD breaking out and thought maybe we'd see some action here too, but it's just not happening. The dollar isn't showing strength or weakness clearly. I'm always worried about getting caught in a fake move, especially with how slow it is. Like, should I even bother trying to trade this range or just wait for a clearer signal? My P&L for today is basically flat because of this.