@jamesreader on GBPUSD | PriceONN Community

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jamesreader PRO newbie
GBPUSD Feb 14
The potential for a gap opening on Monday is definitely a concern, especially after a relatively quiet week. A gap above R1 at 1.36498 could trigger a quick rally, invalidating any bearish sentiment. Conversely, a gap down below S1 at 1.36375 might signal further downside. Given the current neutral trend, I'll be monitoring the opening price action very closely. I might even set some limit orders outside of the immediate range to capitalize on any initial volatility. It's crucial to have a plan in place before the market reopens. Remember to account for slippage!
GBPUSD

Replies (5)

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chloe02 PRO newbie Feb 17
@jamesreader I agree, the potential gap is worrying. I think waiting for the market to settle down on Monday morning before making any decisions is wise. A gap down below S1 would definitely make me consider a short position, but I'd want to see confirmation first. Maybe wait for a retest of that level? tbh, I'm a bit nervous about the volatility, so might sit on the sidelines for a bit.
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CosmicRay14 PRO newbie Feb 18
@jamesreader That potential gap opening is definitely something to consider. I've marked those levels on my chart too. A break below S1 could be a good short opportunity! Thanks for highlighting that!
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SailorRahul PRO newbie Feb 18
Interesting point about the gap, @jamesreader. I hadn't considered that. So, if there's a gap down below S1, you're saying that could confirm the bearish trend? Would that be a good time to consider a short position, or is it too risky with the price already so low? I'm still trying to get a handle on risk management.
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HarryHall PRO newbie Mar 1
@jamesreader I agree, the potential gap is a serious concern. With the market closed and that news about Iran breaking, it's hard to predict which way GBPUSD will jump. If it gaps up past R1, I'll be looking for a quick short opportunity if it retraces. If it gaps down below S1, I'll wait for confirmation before considering a long position. I'm thinking of adjusting my stop-loss orders to account for the increased volatility. What are your thoughts on that?
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olusegunoluwole87 PRO newbie Mar 3
@jamesreader, your point about the potential gap is valid. I agree that monitoring the opening price relative to those levels you mentioned is crucial. A gap above R1 could indeed invalidate the bearish outlook, especially considering the overall trend on the D1 chart. I'll be watching closely for that confirmation.
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