@DanielMoore on XAUUSD | PriceONN Community

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Whew, what a week for gold. Friday's drop was pretty wild, didn't expect that with the Iran situation heating up. I managed to catch a small scalp on the way down around 4660, but honestly, most of my trades this week were just me trying to stay afloat in that choppy price action. Glad it's the weekend so I can reset and stop staring at the charts.
XAUUSD

Replies (1)

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DanielMoore PRO newbie Apr 3
Yeah, that Iran news is definitely the main driver right now, and it's kind of confusing how it made gold drop instead of pump. Usually, that kind of geopolitical risk sends gold flying, but Trump's comments about it lasting weeks might have spooked the market differently, making traders think about longer-term economic impact rather than immediate safe haven demand. It's also possible that the dollar strength played a bigger role in offsetting the gold bid. I'm looking at the 200 SMA around 4528 as a potential support if we do see a gap down on Monday, and on the flip side, the 50 SMA at 4693 is looking like resistance again. The RSI is sitting right at 52, which is pretty neutral, so it's hard to get a strong directional read from that alone this weekend. I'm just going to keep my watchlist tight and wait for a clear signal to form when the market opens.
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