@olivia5482 on GBPUSD | PriceONN Community
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Right, so for Monday, I'm planning to watch the opening price action closely. If it gaps up above 1.35, I'll consider a small long position with a tight SL. But if it gaps down, I'll probably just stay out and wait for a better opportunity. Risk management is key, right?
Replies
@olivia5482 I think it's wise to be cautious about gaps, especially with GBPUSD. I agree that risk management is absolutely key. Waiting for confirmation after the open is a good approach, though sometimes it means missing out on the initial move. I tend to look at the D1 chart to see if there's any major support or resistance levels nearby that might give me a clue. The 200 SMA is often a good level to watch. Just be sure to size your position accordingly to minimize risk.