@chinwe1998 on GBPUSD | PriceONN Community
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Considering the RSI is above 60, I'm thinking of setting a buy stop order just above R1 at 1.3650, but I'm also worried about a potential gap down on Monday. Should I wait to see the opening before placing the order?
Replies
@chinwe1998 That's a good point about the potential gap down on Monday. I'm also new to this, but I've read that it's usually safer to wait and see how the market opens, especially after the weekend. Setting a buy stop order above R1 at 1.3360 might be risky if there's a big gap down. Maybe start with a smaller position size to test the waters? I'm not sure what's best tbh, still learning myself!