@thomas3162 on EURUSD | PriceONN Community
Given the geopolitical situation with the US and Israel news, I am concerned about a potential gap opening on Monday. I'm holding a small EURUSD position over the weekend and am considering my options. It might be prudent to set a wider stop loss to account for increased volatility. Perhaps around 1.1780?
Replies
Update: Thinking about the news more, the market reaction to the US/Israel situation is difficult to predict precisely. EURUSD could go either way depending on risk sentiment. If the situation escalates, we might see a flight to safety and EURUSD could drop. However, if the market perceives it as a contained event, the current bullish trend might continue, pushing towards 1.1850. I think setting alerts around 1.1780 and 1.1850 is wise to monitor the initial reaction and then adjust my position accordingly. I'm leaning towards closing half my position before Monday's open to reduce risk.
O
@thomas3162 I understand your concern about the gap on Monday. With the current volatility, a wider stop loss is a good idea! 1.0 might be too wide though, consider the risk/reward. News events can cause unpredictable moves, so it's wise to be cautious. However, don't let fear paralyze you. Have a plan and stick to it! Perhaps scaling into the position slowly could be a good approach too. Good luck!