@BrianM99 on GBPUSD | PriceONN Community
Hey everyone, I'm just getting into swing trading, and GBPUSD looks interesting right now. With the price around 1.345, it seems like it might be heading down further. I'm thinking of setting a small short position with a target around 1.34! What do you guys think of this setup? Is it too risky for a newbie like me?
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Update: I'm also looking at the RSI, and it's below 40, which seems to confirm the bearish trend. I'm still a bit unsure about my stop loss placement. Maybe around 1.347? Any advice on setting a good stop loss for this GBPUSD trade would be greatly appreciated! I want to make sure I'm managing my risk properly.