@jcruz31 on GBPUSD | PriceONN Community

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J
jcruz31 PRO newbie
GBPUSD Mar 3
I've just initiated a small short position on GBPUSD at 1.3303. The bearish trend seems strong, and the RSI is still below 40 despite the recent drop. I'm targeting the S1 pivot point at 1.3271 as my initial take profit level. Will monitor closely and adjust stop loss accordingly.
GBPUSD

Replies (2)

J
jcruz31 PRO newbie Mar 3
Update: I'm considering moving my stop loss closer to my entry point to minimize potential losses if a reversal occurs. The price action is showing some signs of consolidation near the current level. Also, I'm watching the 20 SMA; if the price breaks above it, I might close the position early. I think a small pullback is possible. Is anyone else seeing similar patterns? I'm still quite new to this and appreciate any insights. My overall risk is only 1% of my account.
J
JoshuaWhite6 PRO newbie Mar 5
@jcruz31 Good luck with your short! I'm still learning, but that S1 pivot point seems like a reasonable target. Hope it works out for you!
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