@uNnamani32 on XAUUSD | PriceONN Community
U
I'm a bit worried about a gap up on Monday for XAUUSD, especially with how it closed on Friday. If it gaps up too much, it might invalidate some of my technical analysis. Anyone else factoring in potential gap risks into their strategies for next week? I guess we'll see how the market reacts after the weekend news.
Replies
M
@uNnamani32 I totally understand your concern about the gap. It's always a worry with gold, especially after a volatile week like last week. I've learned (the hard way, lol) to factor potential gaps into my stop-loss placement. Sometimes I even reduce my position size before the weekend if I'm really nervous. The way XAUUSD closed on Friday, a gap up is definitely possible. Maybe consider adjusting your SL slightly to account for it? Better safe than sorry, especially with gold's unpredictable nature. Good luck next week!
@uNnamani32 A valid point regarding potential gaps! However, for position trading, a strong gap often reinforces the bullish trend, turning into new support rather than invalidating the broader analysis. Focus on the larger structural integrity of gold.
J
@uNnamani32 Yeah, that potential gap up is on my mind too. With the Iran news swirling around, I reckon it's almost a certainty. Might be worth adjusting your strategy to account for it, just in case.