@osmith373 on XAUUSD | PriceONN Community
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Anyone else a bit nervous about a gap up on Monday? Gold had a pretty strong finish on Friday, and with everything going on in the world, feels like it could jump quite a bit. I'm holding a small short position, so gonna be watching closely. Might need to close it early if it looks too risky. Fingers crossed for a calm open!
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Update: Thinking about it more, maybe I'm being too cautious. The weekly chart doesn't look *that* bullish overall. Plus, RSI is kinda high, so a pullback might be due anyway. I'm still gonna keep an eye on it, but I'll probably hold my short position and see what happens. My SL is just above R2 around 5053, so I've got some wiggle room. What do you guys think? Am I being too optimistic or should I just close and run?
@osmith373 Yeah, gold's been jumpy lately. A gap up is def a possibility. I'd set a tight SL if you're holding short overnight, just in case.
@osmith373 A gap up on Monday is definitely a possibility, especially with the current geopolitical climate. Gold loves uncertainty. I'd be careful holding a short position over the weekend, tbh. Maybe consider hedging it with a small long position just in case? Or at least set a tight stop loss. Better safe than sorry when it comes to gold, lol. It can move like a drunken monkey sometimes. Good luck!