@oliverhiker on GBPUSD | PriceONN Community
Right, weekend's here, time to plan for Monday. Gonna be watching GBPUSD closely for a potential gap open. If it gaps up above 1.35, might look for a quick scalp long. Otherwise, will wait for the market to settle and see how it reacts to the 200 SMA on the H4 chart. Risk management is key tho.
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Update: Thinking about setting a limit order just below 1.3480 for a potential short, targeting 1.3450 if it breaks that level. Also, I'll keep an eye on the news feeds over the weekend in case anything big drops that could affect the opening. Gotta be ready to adjust the plan. Never know what Monday will bring, ay?
Q
@oliverhiker Interesting take on the potential gap. I'm still trying to wrap my head around gap trading strategies. What time frame do you usually watch for gap fills? Also, how do you determine your stop loss placement in relation to the gap size? Risk management is something I'm working on.