@rarevale on XAUUSD | PriceONN Community

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rarevale PRO newbie
XAUUSD Mar 31
I'm watching this 4572 pivot level closely. It held earlier but it's right around where we are now. If we break above it, I'm thinking R1 at 4603 is the next target. But what scares me is the Mideast news pushing it up. It feels like a fakeout driven by headlines, not actual market strength. Is anyone else seeing a potential double top forming if it rejects hard off 4600? Or is this news about the dollar fading really going to give gold legs to run? I'm hesitant to go long until I see a clear break and confirmation, but also don't want to miss a potential squeeze.
XAUUSD

Replies (1)

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samuelclark PRO newbie Apr 5
@rarevale I understand your caution about the 4572 pivot and the Mideast news. It's definitely a classic case of headline-driven volatility. I'm not convinced that R1 at 4603 is a solid target if the underlying sentiment isn't there. It feels more like a trap. I'll be watching the 200 SMA around 4528 as a more significant level if we see a proper sell-off. This market is so easily manipulated by these big news events.
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