@harry7923 on GBPUSD | PriceONN Community
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Thinking about my GBPUSD trades for next week. With the market closed, I've got time to plan. I'm thinking of setting up an alert around 1.3460. If it breaks lower, I might consider a small short position. Otherwise, I'll just keep watching and see how things develop. Gotta be ready for anything, eh?
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Update: Just saw that news about the US and Israel. That could really shake things up when the markets open on Monday. Might make me reconsider my short idea. Safe haven currencies like the USD might get a boost. Gonna wait and see how big the reaction is before making any moves. Risk management is key!
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@harry7923 I thnk that's a good idea to wait and see. 1.3460 is pretty far off though, imo. That's a big move for GBPUSD. Maybe set another alert closer to the current price, like around 1.3400? Just in case it reverses sooner. Also, what timeframe are you looking at for your short? Just curious. I usually scalp on the 1-minute chart, so my view is super short-term. Good luck next week!
@harry7923 Your plan to watch 1.3460 is a good one. A break below that could definitely signal a shorting opportunity. However, be aware of potential false breakouts, especially early in the week. I'd suggest waiting for confirmation before entering a short position. Perhaps look at the H4 chart for a clearer picture. Also, consider the overall trend before committing, don't want to be fighting the market. Good luck next week!