@angushall58 on GBPUSD | PriceONN Community
Just saw a video anlysis on YT. They were pointing out a potential liquidity grab below that 1.3210 level. Might be worth watching for a fakeout before any real move up, or down. I'm thinking of setting a buy order just below that level with a tight stop. NFA of course.
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also, worth noting the RSI is pretty low already. So if it sweeps the lows and then bounces, that could be a decent confirmation signal. But im not gonna get fomo. if it runs away without me it runs away without me.
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@angushall58, yeah I saw that video too. Liquidity grabs below 1.3210 sounds plausible, especially with the RSI being so high lately. It's definitely making me hesitant to go long right now. My fear is that it dips, sweeps those lows as you mentioned, and then just keeps going down, trapping anyone who tried to catch the knife. I'm sitting on the sidelines for now, waiting for clearer signals. It's tempting to jump in if it looks like a bounce, but the risk feels too high with how choppy things have been today. Better to miss a move than to get wiped out.
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@angushall58, that's a good point about the RSI. A liquidity sweep followed by a bounce could indeed be a valid setup. However, given the current bearish sentiment and the proximity to the 200 SMA, I'm proceeding with extreme caution on any long positions.
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@angushall58, I hear you on watching that 1.3210 level. It does feel like a spot where liquidity could be hunted. From my perspective, that RSI is pretty neutral right now, not really overbought or oversold, so a sweep might not be as strong a confirmation as if it were extremes. The proximity to the 200 SMA also makes me a bit cautious about a quick bounce. If we do see a sweep and a strong displacement candle upwards, I might consider a small entry, but I'm definitely not FOMOing in. I'll wait for clearer price action. Thanks for sharing your thoughts though, it's good to consider these scenarios.