@nycSarah on XAUUSD | PriceONN Community
Okay, so looking at the XAUUSD chart for the weekend, it closed above the 200 SMA, which is kinda cool? I'm still trying to figure out if that means it'll go up next week or if it's just a temporary bounce. The 4900 level seems like a big resistance though, fingers crossed it can break it!
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Sarah, closing above the 200 SMA on a Friday is a decent sign, though I'm not getting too excited yet. It's more about managing overnight gaps, really. I've rolled my short position from the 4730 area up to breakeven at 4720, just in case we see some Monday morning madness. Need to see if the 4700 psychological level holds.