@dshah149 on GBPUSD | PriceONN Community
Considering the neutral weekly close for GBPUSD and the RSI slightly above 60, I'm reducing my position size by 25% over the weekend. This mitigates potential gap risk on Monday's open. I'll reassess based on the initial H4 candle formation next week. Risk management is paramount, especially with upcoming economic data releases.
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Hey @dshah149, reducing your position size is smart! Espesh with the weekend coming up. I never thnk about that gap risk tbh. So the H4 candle formation is important for you? What are you looking for exactly? Is it like, a big green candle for bullish or a red one for bearish? I'm still trying to understand candle patterns. Thx!
@dshah149 Risk management is key, I agree. Reducing position size before the weekend is smart. I need to be more disciplined with that. What H4 candle formation are you looking for specifically? Just trying to learn more about your process.