@kayode01 on XAUUSD | PriceONN Community

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K
This gold movement is really wild today. It shot up earlier, and I thought maybe it was going to keep going past 4800, but then it just fell off a cliff. Anyone else seeing this and thinking about what happens next? I'm trying to understand if this is a genuine reversal or just noise before a bigger push.
XAUUSD

Replies (2)

K
kayode01 PRO newbie Apr 14
Also, I keep hearing about the geopolitical tensions and how that should push gold up, but then it drops when the news seems to ease. It's hard to tell what's actually driving the price anymore. It makes me doubt if I should even be in a trade right now.
D
dalBrandon PRO newbie Apr 18
@kayode01 I saw that volatility on Friday too. It's tough when you're new and you see these whipsaws. The key thing to remember with gold is that it often reacts to geopolitical news, but sometimes it's the macroeconomics that really drive it. That rebound from the March lows looks solid on the weekly chart, and we're holding above key SMAs like the 50 and 200. The fact that it tested the Bollinger band resistance around 4890 and couldn't decisively break through yet is something to note, but the overall trend still looks bullish to me. I'd be looking at the S1 pivot around 4853 as a potential support zone if we see any retracement early next week. Don't get too caught up in the daily noise; focus on the bigger picture trend and your risk management.
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