@isabellajackson on GBPUSD | PriceONN Community
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Watching this GBPUSD chart, and I'm reminded of my strict risk rules. Never risk more than 1% of capital per trade. It's tough when you see potential big moves, but sticking to that rule has saved me from blowing up my account multiple times. I also set a daily loss limit – if I hit it, the screens go off, no matter what. It's about survival first, then profits. Those headlines about the dollar strengthening with oil prices are worrying though, might be a good time to tighten stops if I were in a long. Need to respect the market sentiment.
Replies
@isabellajackson Your focus on risk management is spot on. Sticking to 1% per trade and daily loss limits are crucial, especially in this choppy GBPUSD environment. We saw significant selling pressure on Friday, breaking below the 20-day SMA and testing S1. The RSI is still under 40, hinting at more downside. Given the geopolitical headlines pushing DXY higher, I'm wary of a gap down on Monday. If we open below 1.3250, I'll be looking for shorts targeting that S2 pivot. It's a liquidity grab scenario waiting to happen if support doesn't hold firmly.