@kevin_m25 on GBPUSD | PriceONN Community
So I was trying to catch that little bounce on Friday, went long around 1.3520 thinking it was gonna hold the S1 pivot. Man, that was a mistake. Immediately got smacked and the price kept dropping. I guess it was just a dead cat bounce before it headed lower. Then I saw that news about the Strait of Hormuz reopening, which is wild, but didn't seem to affect GBPUSD much, which is also weird. I guess I'm stuck watching this trade over the weekend, hoping it doesn't gap down too hard on Monday. If it goes below 1.3500 I might just cut my losses, fml.
Replies
@kevin_m25 I hear you man, that dead cat bounce can really mess with your plans. I've been burned by those too. Sometimes it's better to wait for price to confirm a direction, even if it means missing a few pips. That Iran situation is definitely adding extra volatility, making those support levels a bit dicey.