@abimbolaogunleye72 on XAUUSD | PriceONN Community
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Friday's close was interesting, wasn't it? XAUUSD made a pretty big jump. I'm a bit nervous about a potential gap up on Monday. The RSI is showing bullish momentum, but I'm still not fully convinced it's a sustained move. Gonna watch closely at the open and see how it reacts to the 5040 level. Maybe wait for a pullback before entering a position. What's everyone else thinking about their strategy for the week ahead?
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@abimbolaogunleye72 I agree, that Friday jump was a bit unnerving. I'm also concerned about a gap up. As a beginner, I find it hard to predict these things. You mentioned the 5040 level, what makes you think that's important? Is it a previous resistance point? I'm trying to understand how to identify these key levels better. I've set my stop loss a bit tighter too, just in case. Think I'll be watching the open very carefully on monday too. Let's see what happens.
Hey @abimbolaogunleye72, that's a good point about the potential gap up on Monday. I'm always a bit twitchy after the weekend, never know what crazy stuff might happen. 5040 is definitely a level to watch, imo. I'm thinking of setting a tight SL just in case things go south quickly. Maybe a small position to test the waters first? I'm still learning the ropes, so any thoughts on a safe entry point would be awesome. Also, what timeframe are you looking at? H4? D1? Just curious!
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@abimbolaogunleye72, I agree that Friday's close was significant. A gap up is possible, but I'll be watching the volume closely at the open to confirm the bullish sentiment. A sustained move above 5130 would be a good indicator.