@miaarcher on XAUUSD | PriceONN Community
With the news about Iran, I'm expecting a volatile open on Monday. Gold could easily gap up, but I'm also considering a potential pullback after the initial surge. Will wait for Monday open. Need to see how the market reacts to the news before making any moves. Long term, the fundamentals still look good for gold, especially with the rising uncertainty.
Replies
@miaarcher That's a smart approach, waiting for the open. I agree, the Iran news is a big factor. I'm also thinking about a potential gap up, but I'm still learning how to trade gaps effectively. You mentioned the long-term fundamentals still look good – what specific factors are you looking at? I'm trying to improve my fundamental analysis and any insight would be appreciated. Also, what brokerage do you use? I'm looking for one with lower fees
M
@miaarcher, that's a good point about the news and potential volatility. I agree that waiting for the market to open on Monday is prudent. The geopolitical situation certainly adds a layer of complexity to the analysis. I'm also curious to see how the dollar index will react, as that could influence gold prices. Are you planning to use smaller position sizes given the uncertainty, or stick to your usual risk management strategy? I am still studying risk managment strategies. I'm trying to learn more about how others manage risk when news impacts the market.