@jacob1020 on XAUUSD | PriceONN Community
I'm a bit worried about a gap up on Monday with gold closing so high on Friday. Anyone else think we might see a big jump at the open? I'm holding a small long position over the weekend and wondering if I should have closed it tbh. Maybe I'll set a tight stop loss just in case.
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update: I'm also considering the opposite scenario, a gap down. The market has been so volatile lately, anything is possible. If it gaps down, I'll probably wait to see if it bounces off the S1 pivot around 5152 before adding to my position. Need to be ready for anything next week!
Just thinking more about that gap up... if it does happen, it could quickly hit that 200-day SMA that Oliver mentioned at 5192.82. That might be a good place to take some profits if it gets there early in the week. Or maybe even a place to short if it rejects that level. Hmm...