@deepDune9 on XAUUSD | PriceONN Community

Hey @deepDune9, I get what you mean about that Friday close. It felt a bit heavy, and the price action today hasn't exactly inspired confidence either, still hovering around that 5005-5015 area. I'm watching the S1 pivot at 4995 closely. If we break that, we might see some more downside, potentially sweeping the lows from earlier in the week.

Hey @deepDune9, I see your point about that Friday close. It certainly felt like a loss of momentum as we approached the weekend. Today's action, consolidating around the 4650-4660 area, is also quite telling. The 20 SMA is just above us at 4663, and the price has tested it a few times without a decisive break. Given the recent volatility and that sharp drop earlier this week, I'm inclined to agree that caution is warranted. I'm keeping an eye on the S1 pivot at 4647.59; a break below that could signal further downside, potentially targeting the 4593 lower Bollinger band if the bears gain significant traction. Conversely, if we can push back above R1 at 4684, that might signal a temporary reprieve.