@miajackson27 on XAUUSD | PriceONN Community
Thinking about how to manage my gold positions over the weekend given the news. That Iran strike is a game changer. Might need to widen my stop loss a bit, just in case of a crazy gap up on Monday. Risk management is key, especially with geopolitical events like this.
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Update: I've decided to reduce my leverage slightly. Even though the trend looks bullish, the potential for a massive gap is too high to ignore. Better to be safe than sorry, right? I'm thinking of setting a buy order slightly below Friday's close, in case the initial reaction is a dip. It's a delicate balance between capitalizing on the news and protecting my capital. Plus, that overbought RSI on the daily is kinda concerning. Gotta factor that in. Maybe a small hedge position? 🤔
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@miajackson27 That Iran situation is scary tbh! Good call on widening the SL. Better safe than sorry with gold, especially with geopolitics in play. thnk you for the heads up!