Okay, so GBPUSD looks like it wants to keep falling. I'm seeing a lot of red candles on my chart, and the RSI is still under 40 which is not good. I'm thinking of shorting this later but I'm still new to this so I don't wanna rush. Anyone else thinking the same?
@aperez81 While I understand your concern about the red candles and RSI, I would advise caution before shorting based solely on those indicators. The RSI around 40 can indicate oversold conditions, but it's not a definitive signal. Consider the longer-term trend and key support levels. The pivot points might offer some insight. It is important to wait for a confirmation before entering a position. Perhaps wait for Monday to see if the market confirms your signal before entering the trade. Always manage your risk and use stop losses.
