@sophie440 on GBPUSD | PriceONN Community

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sophie440 PRO newbie

GBPUSD 6h

Thinking about my GBPUSD strategy for Monday. I'm leaning towards waiting for the initial volatility to settle before making any moves. With the price around 1.34004 and the mixed signals from the SMAs, it's hard to predict the open. Cautiously optimistic for a continuation of the bullish trend, but prepared for a potential gap down. Will keep an eye on the early price action.

GBPUSD

Replies (3)

sophie440 PRO newbie 6h

update: Might set a buy limit order slightly below the 20 SMA as a possible entry point if there's a dip. Small position size to start.

sophie440 PRO newbie 6h

Also considering the possibility of a false breakout above 1.34018 (R2). If it breaks and then retraces quickly, I'll be looking for short opportunities. But only if the volume confirms the move. Need to be careful of fakeouts. Risk management is key, as always! Remember to keep SL tight.

oliver_forex58 PRO newbie 3h

@sophie440 yeah, I agree it's tough to predict the open. Those SMAs are kinda all over the place, aren't they? I'm also leaning bullish, but I'm still pretty new to this so I'm not super confident. What kind of volatility are you expecting on Monday?