@emeka3755 on XAUUSD | PriceONN Community
Wow, XAUUSD is really flying today! Almost at 4820s. The dollar seems weak after that inflation news, which is definitely helping gold push higher. I'm seeing a lot of volume on the way up, looks like smart money is accumulating. Should be interesting to see if it can hold these gains into the close.
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Actually, thinking about that FVG again, it's not just about the gap. The way the price action showed such strong displacement upwards after it was formed is key. It means there was a significant shift in momentum. So even if we get a minor pullback to that level, I'm expecting it to be a liquidity grab for more upside. The bulls are definitely strong here, and if we can break above the R2 pivot, that would be massive confirmation for a move higher. This feels like a good opportunity for daytraders to catch a quick scalp, but I'm more interested in seeing if this trend can sustain into tomorrow. The dollar weakness is a huge factor right now.
Wait, I just checked the intraday chart again, and there's a small FVG that formed earlier around 4790s. If price pulls back to fill that, it might be a good entry for a continuation if the bulls are still in control. Volume was strong on that wick down, but it got bought back up fast. Definitely watching that level closely.
Hey @emeka3755, good points on that FVG and the volume. I totally see what you're saying about the displacement after the gap. For me, the big takeaway from Friday's close was how gold held that 4820 level. It wasn't just a quick spike; it consolidated nicely. That suggests buyers are serious. I'm thinking if we get a pullback early next week, maybe to retest that 4840s area, it's a prime spot for another entry. The macro environment still seems favorable for gold too, lots of uncertainty out there. Let's see if we can break 4900 this time!