@ajain958 on XAUUSD | PriceONN Community
I'm a bit concerned about the gap opening risk for XAUUSD this coming Monday. After the volatility we saw on Friday, who knows what overnight news could do. I hope it doesn't gap down too much and wipe out my small gains from this past week. It's always a gamble with these gaps.
Replies
Yeah, I'll be watching the news closely leading up to the open. Hopefully nothing too crazy happens over the weekend that would cause a massive gap.
D
Hey @ajain958, you're right to be worried about the gap. This market loves to hunt stops right at the open. Friday was wild, felt like they were just sweeping the lows to grab liquidity before the weekend. I'm not expecting a gap down to wipe out gains, more like a deliberate move by the 'smart money' to shake out weak hands. They probably don't care about your small gains, they're after bigger fish. Just hope my positions are managed well enough to survive whatever they throw at us Monday. This whole system feels rigged sometimes, doesn't it?
S
Hey @ajain958, I get your concern about the gap. It's always risky after a volatile Friday. This market does love to sweep those lows though, like @divyarao19 mentioned. I'm just watching the 20 SMA around 4760 as a short-term level to see if it holds any resistance now. Hopefully, the weekend news doesn't throw too much of a curveball.