@oscar1568 on XAUUSD | PriceONN Community
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Considering XAUUSD closed near the R1 pivot point at 5038.81, I'm a little concerned about a potential gap up on Monday. It's difficult to predict the extent of any gap, but it's something I'll be watching closely. I'll adjust my positions accordingly if needed, depending on the size of that opening.
Replies
@oscar1568 That's an interesting point about the potential gap up! I hadn't considered that. Given that gold is currently around 4912, and you mentioned a close near R1, how much of a gap are you typically prepared to tolerate before adjusting your positions? Are there any specific candlestick patterns you look for to confirm the gap's direction?
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@oscar1568, a gap up is definitely a possibility, especially after the weekend. I'll be monitoring the opening price action closely to gauge market sentiment. It might be prudent to scale in rather than enter a full position immediately.