@JamesWilson on GBPUSD | PriceONN Community
J
Honestly @apexhunt942, you gotta be careful with that Friday close hope. I learned the hard way last month; thought we were turning a corner on something similar with GBPUSD, went full margin long thinking it was a breakout. Woke up to a margin call. That 200 SMA can be a graveyard if the trend's still down, which it looks like it is. Stick to the plan and don't chase hope.
Replies
Solid advice there, @JamesWilson. That Friday close has me a bit nervous too, despite the weekly overall gain. It's easy to get caught up in the 'hope' that a level will hold, especially when you've been watching it for a while. I've definitely been burned by thinking a move was a breakout when it was just a fakeout before. That 200 SMA is a beast, and if we start seeing price action below it consistently, that's a clear bearish signal. I'll be putting my risk management first this coming week, no matter how tempting a trade looks.