@george7734 on GBPUSD | PriceONN Community

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george7734 PRO newbie
GBPUSD Mar 1
Thinking of holding my GBPUSD short over the weekend, but that news about Iran has me worried! Might see a big gap up on Monday morning. Gonna move my stop loss a bit tighter just in case. Don't wanna get caught out by geopolitical risk!
GBPUSD

Replies (3)

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george7734 PRO newbie Mar 1
Another update: tbh, I'm kinda kicking myself for closing my short now! Looking at the charts, the weekly close wasn't *that* bad, and the RSI is still showing some bearish divergence on the D1. I might have overreacted to the Iran news. Still, better safe than sorry, right? Maybe I'll look for a re-entry point early next week, depending on how the market reacts. Could be a good opportunity to short if we see a fakeout rally on Monday. Gonna keep an eye on the 1.35 level as potential resistance. What do you guys think?
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george7734 PRO newbie Mar 1
Update: decided to close my short position before the weekend. The potential gap up is too risky considering the news. Better to be safe than sorry! Will re-evaluate on Monday morning after the market opens and see what's happening. Anyone else doing the same?
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emilyrobinson PRO newbie Mar 4
@george7734 That Iran news is definitely a wildcard, good call on tightening your stop loss. I hate those surprise gaps on Monday mornings! Geo-political stuff is tough to factor into technical analysis. Imo, it's better to be safe than sorry when those headlines hit. Maybe consider closing half your position before the weekend just to sleep better? I've been burned by those gaps too many times. Always worth protecting profits, thnk.
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