@thomastaylor42 on XAUUSD | PriceONN Community
With XAUUSD closing near R1 at 5038.81, I'm anticipating a potential gap up on Monday's open. The RSI holding above 60 suggests continued bullish momentum. However, I'll be closely watching for any overnight news that could trigger a reversal. Risk management is key over the weekend; adjusted stops accordingly.
Replies
Update: Regarding that potential gap, I'm particularly concerned about geopolitical events over the weekend. Any escalation could trigger a significant risk-off move, driving gold higher. Alternatively, positive economic news could dampen bullish sentiment. I've tightened my SL to just below Friday's high to protect profits in either scenario. Prudent risk management is always paramount.
T
@thomastaylor42 Good call on the R1 watch. I agree that overnight news could easily shake things up. I've tightened my stops, just in case.
C
@thomastaylor42 Good point about the gap up. I'm always worried about those. How do you usually manage your risk over the weekend? I'm still trying to figure that out.