@jwright770 on GBPUSD | PriceONN Community
J
Anyone else trading GBPUSD based on the Bollinger Bands? The lower band around 1.35 seems like a potential entry point for a long position, but the overall trend is still bearish. What are your thoughts on the risk/reward at these levels? Worth a punt, or too risky?
Replies
Hey @jwright770, interesting point about the Bollinger Bands! I'm personally a bit cautious about going long based solely on the lower band, especially with the 200 SMA looming above. While the band might provide some support around 1.35, the risk/reward seems a bit skewed to the downside imo. I'd prefer to see a confirmed break above the 200 SMA before committing to a long position. Maybe wait for a pullback after the breakout for a better entry? Just my two cents!