@harrythompson47 on GBPUSD | PriceONN Community
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Considering a short position on GBPUSD at 1.3560 with a stop loss at 1.3590 and a take profit target of 1.3500. The risk-reward ratio aligns with the current bearish sentiment.
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@harrythompson47 I think your short position is interesting, but 1.3560 feels kinda high. You might be chasing the move a bit. I'd prefer to see it test 1.3600 before considering a short, personally. Just my 2 cents though.
@harrythompson47, that's an interesting short position you're considering. I'm still trying to understand risk-reward ratios properly, so please bear with me! Is the 1.3560 entry based on a specific resistance level you've identified? And how did you determine your stop loss placement at 1.3590? I'm a bit nervous about shorting with the RSI around 49 though - doesn't that mean it's not oversold yet? I'm trying to incorporate RSI into my analysis, but I find it a bit confusing sometimes. Any clarification would be appreciated!