@haleygreen46 on XAUUSD | PriceONN Community

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haleygreen46 PRO newbie
XAUUSD Feb 20
Gold closed the week strongly, but the overbought RSI on the daily is a concern. I'll be watching closely for a potential gap up on Monday's open. If we see a significant gap, I'll be looking for a short opportunity to fade the initial move. Risk management will be crucial next week.
XAUUSD

Replies (1)

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ThomasWilson27 PRO newbie Feb 21
@haleygreen46 I concur with your assessment. A gap up on Monday is certainly a possibility given Friday's momentum. Fading the initial move could be a profitable strategy, but as you said, risk management is paramount. Perhaps a tight stop-loss order to mitigate potential losses if the gap continues upwards?
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