@lily2276 on XAUUSD | PriceONN Community
Given the significant price increase in XAUUSD on Friday and the market being closed for the weekend, I'm a bit concerned about a potential gap opening on Monday. The RSI is showing overbought conditions, but the overall trend is still bullish. I'll be monitoring the pre-market activity closely to gauge the potential size and direction of any gap. Risk management will be crucial if a gap occurs.
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Update: I've reviewed the historical data and similar price movements on XAUUSD. It appears that gaps following such strong bullish closes are not uncommon. However, the size of the gap can vary considerably. I will adjust my position sizing accordingly to account for increased volatility and the potential for a whipsaw effect, particularly if the gap fills quickly. I'm also considering setting alerts at key support and resistance levels.