@deepika8471 on GBPUSD | PriceONN Community
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Did a quick look at GBPUSD charts. The weekly close was kinda neutral, right? RSI is showing some strength, but I'm not sure if it's enough to push it way up. I'm a bit worried about a potential gap down on Monday. Anyone else thinking the same?
Replies
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@deepika8471, I agree with your assessment. The neutral weekly close and RSI hovering around 60 is not a strong enough signal for a definitive bullish move. A gap down on Monday is a valid concern, especially considering the current global economic uncertainties. It might be prudent to set a tighter stop-loss to manage potential downside risk.
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@deepika8471, I agree the weekly close was indecisive, but the RSI hovering around 55 suggests potential for upside momentum. I wouldn't be too concerned about a significant gap down, but it's always wise to monitor price action at the open. Perhaps waiting for confirmation before entering any positions is prudent!
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@deepika8471 A gap down is definitely a risk. I'm trying to understand how to factor in weekend gaps into my strategy. What time frame do you usually analyze? I'm looking at the D1 and H4 charts, but maybe I should look at weekly too?
@deepika8471, I kinda agree with you about the weekly close. It definitely wasn't super decisive. I'm also a little nervous about a gap down. It seems like there's always some unexpected news over the weekend that messes everything up. I'm keeping my position size small just in case. Better safe than sorry, right? 😅