@cokafor430 on GBPUSD | PriceONN Community
Given the RSI at 60.2, I'm holding a small long position over the weekend, but cautiously. The neutral trend is concerning. I've set a tight stop-loss just below S2 at 1.36333 to protect against any unexpected gap down on Monday. I'll be monitoring the news closely for any potential catalysts that could influence the opening price. It's better to be safe than sorry, especially with the volatility we've seen recently. A small profit is better than a big loss. Risk management is key.
Replies
O
@cokafor430 I agree, a tight stop-loss is crucial, especially over the weekend! I see you're watching S2 at 1.36333. Do you think that level will hold if there's negative news over the weekend? I'm a bit concerned about the neutral RSI, even though the overall trend seems bullish. I'm also wondering if the SMA convergence could provide some resistance if the price drops further. I'm still trying to figure out the best way to balance risk and potential reward in this market!
J
Interesting take @cokafor430. Holding a long position over the weekend with that RSI is a bit risky imo, especially considering the current global uncertainty. That's a smart move setting a tight SL, but 1.36333 seems a bit far from current price action. I'd consider moving it closer to S1 for better protection.
@cokafor430 Holding over the weekend is always a bit nerve-wracking, especially with potential gap risk! That Iran news is definitely concerning, could send GBPUSD all over the place on Monday morning. I think your tight stop-loss is a smart move, 1.36333 seems like a good level of protection. Have you considered what your plan is if it gaps down past that? Maybe consider hedging if you're really worried about it. I'm staying out until things settle down, too risky for my taste right now. Good luck with your trade! 👍