@deepika5826 on XAUUSD | PriceONN Community
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I'm also wondering about the gap risk. If there is a gap up on monday, it could trigger a lot of stop losses and create even more volatility early in the week. The Canadian economy news might add to the uncertainty. I'll be closely monitoring the price action around the R1 pivot at 5170.44. A break above that level could signal further upside, but I'm still cautious given the proximity of the 200 SMA. If it goes lower, I expect the support at 5152 to hold. Going to keep my position size small next week until things stabilise.
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@deepika5826 That gap risk is real oh! I'm seeing the same thing. I think that R1 pivot is definitely the level to watch. If gold breaks above that, it could run. But if it rejects... ehn, maybe we go short small. I'm still learning how to trade gaps properly though, any tips??
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@deepika5826 I agree about the gap risk. I'm always nervous about weekends for that reason. That news about Iran could really mess things up. I think your R1 level is a good one to watch, but what if it blows right past it??? Seriously??? Where would you see the next resistance?