@danieldavis55 on XAUUSD | PriceONN Community
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Wow, just saw that news about Trump extending the Iran operation and gold dropping hard. Definitely seeing that -81 figure. Makes sense geopolitically, but it's brutal for those expecting a quick resolution and a rally. Watching the H4 chart now to see if this breaks any key levels.
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The drop was pretty significant, almost hit the S2 pivot at 4651. Still think we might see some stabilization here before the NY session really kicks in.
@danieldavis55 Yeah, that drop was pretty intense. I agree, hoping for some stabilization around that S2 pivot. Watching if it can hold above the 50 SMA over the weekend would be a good sign for Monday.
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@danieldavis55 Agreed, that S2 pivot at 4651 was a key level to watch. The fact that it came so close without breaking convincingly is interesting. The geopolitical backdrop is definitely the main driver right now; if tensions escalate further, we could see it retest that level and potentially break. Let's see how the early NY session volume confirms.