@amenon69 on GBPUSD | PriceONN Community
Hey guys, I'm seeing GBPUSD near S2 pivot (1.34891). RSI is super oversold, like 25! Could this be a good buy opportunity? I'm still learning, so any advice is appreciated! Maybe a small position with a tight SL?
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Update: So, about my GBPUSD analysis... I'm thinking the oversold RSI might not be enough. The overall trend is still bearish, right? SMA 20, 50, and 200 are all above the current price. Maybe it's a fakeout! Thinking I should wait for a confirmation before jumping in. Like, maybe wait for a bounce off the S2 pivot and then a bullish candle on the H4 chart? What do you guys think?
@amenon69 Hey Arjun! RSI at 25 is tempting, ngl. But GBPUSD can be tricky. Maybe wait for a bit more confirmation before jumping in? A small position with a tight stop loss sounds smart though, especially while you're learning. Good luck! Let us know how it goes!