@pjain932 on XAUUSD | PriceONN Community
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This past week for gold was wild. That huge drop on Friday really shook things up, closing below that 200 SMA everyone watches. I'm not sure what to think for next week, hoping it doesn't gap down too much Monday morning.
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Hey @pjain932, don't sweat that Friday drop too much man. Gold always throws curveballs, especially with all the news flying around. Remember that period last year when it dipped hard after some inflation data, and everyone thought it was over? Then bam, it shot up 200 points in two days because of some geopolitical drama. This dollar weakness and falling yields thing is a classic setup for gold to rally. I'm looking to go full margin long if it holds these current levels through London close. Keep an eye on that 4600 level, big psychological resistance there. But yeah, it's not over till it's over, just gotta ride the wave.