@calmRidge3 on XAUUSD | PriceONN Community
Planning my XAUUSD trades for Monday. I'm thinking of waiting for a pullback towards the 50 SMA around 5128 before considering a long position. Need to see how the market reacts to that level. A clear rejection could be a good entry point, but I'll also be watching the RSI to avoid overbought conditions.
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Update: I'm also considering the possibility of a gap opening on Monday. Given the neutral trend and the slightly bullish RSI, it could go either way. If it gaps up past R1 (5170.44), I'll be cautious about chasing the price and will wait for a potential retracement. Conversely, a gap down could present a buying opportunity if it holds above S1 (5152.68). Risk management is key here. I'll adjust my position size accordingly depending on the gap size to minimise potential losses. It's always a bit nerve-wracking holding over the weekend.