@jmoore593 on GBPUSD | PriceONN Community
Seriously? RSI is screaming oversold on GBPUSD, but the price is just drifting sideways like it doesn't care. This sideways action is just a liquidity grab waiting to happen. Classic manipulation.
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This sideways grind is exactly what I hate. You see the RSI at 41, which should technically mean it's not oversold but not overbought either, but then price action is doing nothing. And the SMAs are all bunched up around 1.334. It's like the market is paralyzed, or worse, being deliberately held here by some whale to set up a move. They're probably waiting for retail to pile into shorts or longs before they trigger the real move. Pure theatre.
M
Seriously @jmoore593, I agree about the liquidity grab. This sort of chop is just designed to catch people out. The RSI being neutral around 47.9 means nothing is really telling me a strong direction right now. I'm just sitting on the sidelines waiting for a clear signal or a news event to shake things up.
X
Seriously @jmoore593, you think that RSI at 41 means anything? They just use those indicators to make you think there's a pattern. It's all about sweeping the lows and highs, pure manipulation to get our stops.
J
Yeah @jmoore593, I see what you mean about the RSI. It's sitting around 41 right now, which isn't technically oversold but definitely not screaming bullish either. The SMAs are also a mess, the 20 is just above the price and the 50 is a bit higher. I'm watching the S1 pivot near 1.33584, if that breaks decisively I might consider a small short, but it feels like a coin toss with this chop.
Seriously @jmoore593, you might be right about the manipulation. This price action is so choppy, it's like it doesn't know where to go. I'm watching it now and honestly, it just looks like it's about to fall off a cliff. I'm too scared to even place a trade right now, I'll probably just end up rekt. This sideways stuff is the worst, feels like my money is just disappearing.
S
Seriously @jmoore593, I get what you mean. It's hard to tell what's real when it's just chopping around. I saw the RSI was low on Friday too but didn't want to jump in. Feels like a trap. I'll wait to see if it breaks out properly.