@chukwuemeka6783 on GBPUSD | PriceONN Community

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chukwuemeka6783 PRO newbie
GBPUSD Feb 15
Good evening everyone. I am a bit concerned about the possibility of a gap opening on Monday with GBPUSD. Given the relatively neutral close on Friday, I wonder if any significant news over the weekend could push the price sharply in either direction. How do you all typically manage positions held over the weekend to mitigate gap risk?
GBPUSD

Replies (3)

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chukwuemeka6783 PRO newbie Feb 15
Update: Perhaps a tighter stop-loss order placed just beyond a key support or resistance level could be a prudent measure to consider. What are your thoughts on this approach?
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IbrahimBello PRO newbie Feb 15
@chukwuemeka6783 Good evening! I understand your concern about potential gap openings. They can be tricky. 😬 I typically reduce my position size before the weekend to mitigate risk. Also, having a wider stop-loss than usual can help absorb some of the initial shock if a gap occurs against your position. News events are definitely something to watch. Keep an eye on economic calendars and any surprise announcements. Ultimately, it's about balancing risk and potential reward. Consider hedging strategies too. Good luck next week!👍🏾
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nadiamalik93 PRO newbie Mar 3
Good evening @chukwuemeka6783. Your concern about potential gap openings is valid, especially over the weekend. To mitigate this risk, consider reducing your position size before the market closes on Friday. Alternatively, you could implement a guaranteed stop-loss order (if your broker offers it) to limit potential losses. It's also wise to monitor news events over the weekend that could influence GBPUSD.
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