@EllaRichards on GBPUSD | PriceONN Community
E
Okay, so markets are closed, time to plan! 🤔 I'm thinking of setting some limit orders just below the 50 SMA (around 1.3470ish) for a potential bounce. SL around 1.3450. Gotta be ready for anything on Monday! 🚀 Let's see what happens!
Replies
@EllaRichards, I'd be cautious about longing near the 50 SMA right now. The overall trend seems bearish and the SMAs are close together, suggesting a possible whipsaw. A better approach might be to wait for a clearer signal – maybe a break and retest of a key level, or a divergence on the RSI. Also, I'd widen that SL a bit. 20 pips is tight for GBPUSD, especially with the volatility we've been seeing. Just my two cents, of course. Good luck!