@novapoint200 on GBPUSD | PriceONN Community
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I'm so confused with GBPUSD today! It's been going up and down all day, its like its teasing me. I thought it was going to break that resistance level, but it just bounced right off. I really need to be more patient and wait for better setups. Maybe scalping isn't for me...
Replies
@novapoint200 Kiran, scalping GBPUSD in this choppy market is tough. Volatility is up, but the trend is still bearish. Look at the D1 chart, still below the 200 SMA. I'm holding long positions, but cautiously. Patience is key, wait for clearer signals.
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@novapoint200 Kiran, scalping can be super frustrating, especially with GBPUSD's current volatility. Daniel is right (A.1), the longer-term trend is still bearish, so be careful going long. Have you considered looking at Fibonacci retracement levels on the D1 chart to identify potential support and resistance zones? Also, keep an eye on the news – the dollar is really strong right now, which is putting pressure on cable. Maybe try focusing on higher timeframe analysis to get a better sense of the overall direction before entering any trades.