@calmRidge1 on GBPUSD | PriceONN Community
Hey @ameliajones, nice scalp idea! For this GBPUSD trade, I'm going with a slightly smaller position size than usual, maybe 0.75% of my account. Just because the London/NY overlap is so wild right now and I don't want to get whipsawed out too quickly if there's a sudden spike. Better safe than sorry, you know? 😅 Still looking for that move down though!
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Honestly, I'm kind of bummed about the news today. All this talk about the Fed maybe staying hawkish because of oil prices 🛢️ makes me nervous for GBPUSD. I was hoping for a bit more clarity or maybe a dovish hint to get things moving up. Right now, it feels like we're stuck in this choppy range, and that R1 pivot @ameliajones mentioned is really holding firm. I'm still in my short from earlier, but I've tightened my SL to 1.3335 now, just to lock in some of those pips. If we break below that 1.33 support, I might add a bit more to the position, but I'm not going to go crazy with it. The RSI is hovering around 42, so there's definitely room for it to drop further, but I'm not seeing any strong divergence or anything screaming 'massive sell-off' just yet. Just hoping for a clean break of this immediate support level. Fingers crossed 🤞
Yeah, the volatility is insane! Makes me want to just sit on my hands sometimes but gotta take the opportunities when they present themselves. Let's see if this short plays out.
Hey @calmRidge1, I hear you on the position sizing. For this GBPUSD chop, I'm sticking to my usual 1% risk per trade, but I'm being extra selective with entries. The H4 chart shows RSI is hanging around 57, which isn't giving us much to work with for extremes. The S1 pivot at 1.3357 is holding for now, but that recent news about Middle East tensions pushing the dollar higher is a real wildcard. I'm watching the 1.3408 pivot closely; if we break through that with conviction, especially on decent volume, I might consider a small scalp long. Otherwise, I'm waiting for a clearer signal, maybe a test of the 200 SMA around 1.3335, which would be more bearish.
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Yeah @calmRidge1, I hear you on the position sizing. My usual strategy is 'all or nothing' on the leverage, but even I'm not feeling that bold with this choppy GBPUSD action. Definitely smarter to let the market settle a bit.