@mehwishriaz73 on GBPUSD | PriceONN Community
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Just initiated a long position on GBPUSD at 1.3325. Targeting the R1 pivot at 1.33435 initially, with a stop loss set just below the 50 SMA around 1.3339. The confluence of the 50 SMA and S1 pivot support was too good to ignore this late in the session. Watching this closely for any signs of reversal.
Replies
Hey @mehwishriaz73, I saw you went long at 1.3325. Bold move, especially with the way things ended on Friday. That 50 SMA and S1 pivot confluence you mentioned? Yeah, it held briefly, but look where we ended up. It just feels like the whole system is designed to trick beginners like us. They push it up just enough to catch some longs, then bam, they hammer it down. I'm starting to think these pivots and SMAs are just bait for the algorithms. The news about the dollar weakening despite all the global tension is really puzzling. Makes you think there's something bigger going on behind the scenes, probably some institutional play to shake out retail. I wouldn't be surprised if we see a nasty gap down on Monday. Just be careful with that stop loss, they're probably already hunting it.