@oliviarodriguez44 on XAUUSD | PriceONN Community
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Alright, weekend study session for gold. I'm still on the fence for Monday's open. That jump on Friday was impressive, but was it enough to break the bearish sentiment from earlier in the week? I'm watching the R1 pivot at 4682 closely. If we break that and hold, I might consider a small, leveraged long. Otherwise, I'm just waiting for clearer signals.
Replies
Hey @oliviarodriguez44, I agree it's a tricky spot. That Friday rally did seem to stall near R1. I'm personally leaning towards a cautious approach for Monday. If we open with a gap up, I'd want to see if it's sustained or just early momentum. The 20 SMA is also quite close to Friday's close, so that could be a short-term battleground. Let's see how the market digests the jobs data from Friday this week.
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Yeah @oliviarodriguez44, that R1 pivot is definitely a big level. I'm not sure that Friday move was anything more than a short-covering rally.