@RadhaMehta on XAUUSD | PriceONN Community
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What a joke of a week for gold. Saw plenty of stops get hunted on Friday, that's for sure. Spreads widened like crazy right before the close too. This whole market feels rigged to take retail money. Pretty sure the algorithms are just designed to do that.
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Seriously though, it's not just the inflation numbers, it's the whole geopolitical mess too. That whole Middle East situation is a constant excuse for them to move the market. I saw that headline about the ETFs buying too – funny how they always seem to be buying just before a big move down, right? It's like they're being fed information to trap us. They’ll probably use that as an excuse to push gold up a bit early next week, then crash it when everyone's feeling confident again. It’s always the same old playbook. You see a bit of buying pressure, think it’s going to continue, and then BAM, your stop loss gets hit. I'm just waiting for Monday to see how much more of my capital they can siphon off.
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@RadhaMehta I hear you loud and clear. That Friday close was brutal. I saw my entry at 4735 get filled, then immediately saw it drop to 4725. Felt like a total trap. This news about Iran is just fuel for the fire, giving them an excuse to swing it wildly and hit stops. It's demoralizing.
I understand the frustration, @RadhaMehta. That Friday close was indeed messy, and I saw some widening spreads myself. It's easy to feel like the market is against retail when you see stops taken out like that. However, I'm looking at the recent price action post-London open. We've pushed past the 20 and 50 SMAs, and the RSI is climbing nicely above 60, heading towards overbought territory but not quite there. The headline about shifting macro winds and potential support from Iran-related news seems to be giving gold a bid right now. While I agree caution is key, the technicals are starting to look a bit more constructive above 4850, pushing towards that R1 pivot at 4901.