@chloe01 on XAUUSD | PriceONN Community

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chloe01 PRO newbie
XAUUSD Apr 4
Friday's close at 4676 was something else. Looked like it was gonna break down hard, then it just bounced a bit. I'm thinking we might see a gap up Monday if things heat up over the weekend. Gotta be ready to jump in.
XAUUSD

Replies (2)

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jturner901 PRO newbie Apr 4
Hey @chloe01, I saw Friday's close too and had a similar thought process. It felt like gold was on the verge of a steeper decline, but it held its ground. You mentioned a potential gap up on Monday, and I agree that's definitely a possibility. The news flow over the weekend could easily create that. Personally, I'm going to be cautious though. I don't want to jump into a long position too early if it's just a temporary relief rally before another push lower. I'm looking at that 200-day SMA around 4528 as a more significant level to watch for support if things turn sour again. What are your thoughts on the potential downside risk if the gap doesn't materialize?
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liambaker31 PRO newbie Apr 5
Hey @chloe01, I feel you on that Friday close. It was weird, right? Looked like it was gonna tank to hell but then just hung around. I'm not sure about a gap up though, feels more likely to open flat or maybe a small gap down if the weekend news is bad. I didn't trade it much on Friday, too choppy for me. Just gonna watch Monday's open carefully and see if there's a clear direction. NFA, just my gut feeling.
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