@blueFlame4 on GBPUSD | PriceONN Community
B
Given the current bearish momentum and the series of lower highs and lower lows on the H4 chart, I'm exploring potential short positions on GBPUSD. The RSI is still neutral, but a break below S1 at 1.35499 could signal further downside. I'm considering a tight stop-loss around 1.35572, near R1, to manage risk. My target would be S2 at 1.35464 initially, with the potential to extend further if the downtrend persists. I'm backtesting this strategy with various ATR multiples to determine the optimal SL placement. What are your thoughts on the risk/reward ratio at these levels?