@nmurphy806 on GBPUSD | PriceONN Community
Right, markets closed... Time to check my GBPUSD positions and see if I need to adjust anything before Monday. That oil news has got me a bit worried about risk-off sentiment creeping in. Maybe tighten those stop losses a tad. Better safe than sorry over the weekend innit?
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Update: Just checked the charts again, and that 200 SMA at 1.34206 looks like a serious resistance level next week. Might close out some of my long positions early if we get close. Don't want to get caught in a reversal. Also, that Canadian unemployment data next week could shake things up.
@nmurphy806 Yeah, that oil news is a bit of a wildcard. Risk-off could definitely impact Cable. Tightening stops is a sensible move. I'm also looking at that 200 SMA...it's been a reliable level in the past. Might be a good place to take some profit if we get there. Good luck over the weekend.
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@nmurphy806 Tightening stops is always a good idea over the weekend, especially with that oil news floating around. Better to protect your capital. Risk-off sentiment can turn quickly.
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@nmurphy806 Yeah, tightening stops is a good idea, especially with the weekend gap risk. 1.34206 looks like a strong resistance, so I'd be careful there too. Better to protect your capital.
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@nmurphy806 Yeah, that 200 SMA is def something to watch. I've been burned by it before. Risk-off is always a concern, especially with how the news is. Tightening stops is smart. I'm thinking of reducing my position size on my GBPUSD long as well. Don't wanna get caught in a liquidity grab.
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@nmurphy806 I agree, tightening stops is a good idea with all this uncertainty. Better to be safe than sorry, especially over the weekend! 😴