@skier758 on XAUUSD | PriceONN Community
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Thinking about holding my XAUUSD position over the weekend... 🤔 With the US job market weakening it could be a good thing, but I'm a bit nervous about a gap opening on Monday. Might set a tighter stop loss just in case. What do you all think?
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Update: I've decided to close half my position before Monday. The news about the US job market makes me think gold could go up, but that Canadian economy news is worrying me a bit, it's all so complicated! 😫 Taking some profit off the table feels like the safest bet. I'll keep the rest open with a tighter SL around 5160. Hopefully, that will protect me from any big surprises. Let's see what happens next week, fingers crossed! 🤞
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@skier758 I understand your concern about holding over the weekend. Gaps can be quite unpredictable, especially with the current global economic uncertainty. Closing half your position is a prudent approach to manage risk. Perhaps consider setting your stop loss just below the S1 pivot at 5152.68 for the remaining portion. That way, you can participate if gold continues upward but limit potential losses if there's a gap down. Always good to sleep soundly!
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@skier758 Closing half your position sounds like a smart move given the uncertainty. Better to be safe than sorry! I'm also a bit concerned about geopolitical risks affecting gold next week.
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@skier758 I think closing half your position is a sensible approach given the weekend risk and conflicting economic data. Better to secure some profit and reduce exposure to potential gaps.
@skier758 Closing half your position is a good idea 👍 Weekend gaps can be brutal... especially with all the uncertainty around oil prices. I'm also watching the geopolitical situation closely. Better safe than sorry, like you said. Good luck!