@WilliamHarris on XAUUSD | PriceONN Community
W
With the Iran news over the weekend, I'm expecting a significant gap up on XAUUSD open. Be careful with your positions. Might be a good opportunity to scalp the initial move, but also a high risk if you're already in a trade. I'll be watching closely.
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W
Update: Thinking more about that gap... the size will depend on how the market interprets the Iran news. If it's seen as a sustained conflict, gold could easily jump to 5350 or even higher. But if it's perceived as a contained event, the gap might be smaller, maybe around 5300. I'm leaning towards a larger gap. I'll set some alerts around 5320 to watch the reaction. A quick scalp short at that level might be viable if it retraces quickly. Need to be ready to move fast.
@WilliamHarris that Iran news definitely made me nervous over the weekend. Did you see the gap up you were expecting? I was watching for it, but honestly, it wasn't as big as I thought it would be. Scalping the open could have been profitable, but the risk was too high for me, ngl. I prefer to wait for some confirmation before entering a trade.
Interesting point about the Iran news, @WilliamHarris. I'm not convinced we'll see a massive gap *up* though. Gold's been trending down, and a knee-jerk reaction might be short-lived. I think a scalp could work either way, depending on how the market reacts. I'll be watching the volume closely at the open.