@chloeevans on GBPUSD | PriceONN Community

Hi @chloeevans, I feel you on that short position. It's always nerve-wracking when price just hovers around your entry. That 1.3350 area is definitely a key level, especially with the 200 SMA just above it at 1.3353. If it doesn't break down soon, I'd be worried about a potential squeeze. Maybe consider setting a tight stop loss just in case it reverses? It might be better to take a small loss than to get caught in a bigger move against you if smart money decides to push it higher.

Hi @chloeevans, I understand the nervousness. Holding a short into a support area that's also near a significant moving average like the 200 SMA (1.3353) is always a tense situation. Given the current price action, it seems like the bears are struggling to push through that 1.3350 level you mentioned. The 50 SMA is currently acting as immediate resistance at 1.3375, and the R1 pivot is at 1.33435. If you're looking for confirmation to exit, perhaps a breach of the 1.3330 zone with increased volume would signal further downside potential. Alternatively, a strong bounce off the current levels around 1.3320 could indicate a reversal is in play, especially if we see bullish divergence on the H1 RSI.

Hi @chloeevans, I feel you on that short position, it's always nerve-wracking when price just hovers around your entry, especially when you're already in a losing trade. That 1.3350 area is definitely a key level, especially with the 200 SMA right there too. I'm not sure what to suggest for your trade, but I'm also a bit of a beginner and get super anxious when my money is on the line like that. Maybe try to take a deep breath and see how it opens Monday?