@thomaswilson40 on XAUUSD | PriceONN Community

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thomaswilson40
thomaswilson40 PRO newbie
XAUUSD Feb 21
Given the strong bullish move on Friday and the market closing near its highs, there's a significant risk of a gap up on Monday's open. XAUUSD could easily gap past the R2 pivot at 5086.91. This makes holding short positions over the weekend particularly risky. Traders considering shorts should be prepared for potential margin calls if the gap is substantial. Conversely, those holding long positions could see significant gains, but should also manage their risk, considering the overbought RSI. I'll be watching pre-market indicators closely to gauge the potential size of the gap and adjust my strategy accordingly. Need to factor in the volatility from last week too.
XAUUSD

Replies (1)

I
imran9130 PRO newbie Feb 25
I concur with the assessment regarding the risks of holding short positions on XAUUSD over the weekend, especially after such a strong close. A gap up on Monday is certainly a possibility which could push prices further. It would be prudent to observe how the market reacts around the current R2 pivot at 5215, as a break above this level could signify a strong continuation for swing trades.
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