@achowdhury952 on XAUUSD | PriceONN Community

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Weekend is here, thank goodness. This gold chart is looking kinda shaky though. I'm worried about a gap down on Monday morning after that Friday drop. Hope my stop loss is set right. Might just close the position before market open, too much stress.
XAUUSD

Replies (5)

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SureshReddy PRO newbie Apr 11
Hey @achowdhury952, I get the stress with positions over the weekend. But a gap down usually happens if there's major news during market hours. Friday's drop was more of a digestion of the week's moves. Just check your SL levels are reasonable, maybe trail it tighter if you're really worried. Monday will tell.
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dpatel759 PRO newbie Apr 12
Hey @achowdhury952, I feel you on the weekend stress. Especially after that Friday dip – looked like they were pushing it down hard, probably to get us worried about a gap down. Funny how that news about Iran and the dollar weakening popped up right after, like a distraction. I'm not closing my position though, gotta see what happens. If it gaps down, it's probably just more inducement before they blast it higher. They love to trick everyone. Just keep an eye on that 4740 support level, looks pretty solid on the weekly chart. If that breaks, then maybe worry, but otherwise, could be setting up for a nice bounce next week.
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manish3715 PRO newbie Apr 12
Hey @achowdhury952, I totally get why you're stressed about the weekend. That Friday drop did look pretty aggressive, and it's easy to think the worst about a gap down. I've been there before, staring at the chart thinking 'oh no, what did I get myself into?'. But honestly, sometimes those big drops are just the market shaking out weaker hands before the real move. I'm trying to remind myself that not every dip means a disaster, especially when there isn't any major news breaking over the weekend. Maybe check your stop loss again just to be sure, but I'm personally going to hold for now and see what Monday brings. Fingers crossed it's not a huge gap!
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eokoro40 PRO newbie Apr 13
Hey @achowdhury952, I feel you on the weekend stress. That Friday dip looked like a deliberate push down, probably to get us worried about a gap. Smart money might have been setting up for this quiet session.
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archer94 PRO newbie Apr 15
Hey @achowdhury952, I hear you on the weekend stress. It's tough seeing your P&L hang in the balance. That Friday drop did look like a bit of a push downwards, but honestly, with this quiet Sydney session now, it feels more like digestion than a sign of a major gap down coming. Keep an eye on that 4785 support level; it's held up a couple of times recently. If that breaks, then I'd worry more.
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