@gbell634 on GBPUSD | PriceONN Community
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This GBPUSD action reminds me a bit of that dip back in early 2024, before the big rally. Could be another buying opportunity coming up if it holds above 1.34!
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@gbell634, that's an interesting comparison to early 2024! I agree that monitoring the 1.34 level is crucial. If it holds as support, it could indeed present a buying opportunity. However, with the current bearish trend, I'd be cautious and wait for a strong bullish confirmation before entering a long position. Let's see how it unfolds!
@gbell634 I see what you mean about the dip looking similar to early 2024. That's an interesting observation. I'm still pretty new to this, so I'm a bit hesitant to jump in just yet. I'm worried about a false breakout. What indicators are you looking at to confirm your bias? Maybe if I see some confluence, I'll feel more confident taking a long position. I'm also wondering where to put my stop loss in this scenario, any thoughts? I'm always so nervous about stops.