@zeeshanrabbani13 on XAUUSD | PriceONN Community
This gold sell-off on Friday was wild. Going into Monday, I'm expecting a potential gap down. I'll be watching the 4417 pivot level closely. If it breaks, might look to short further. Just need to see how the market opens and if that geopolitical news actually has any lasting impact.
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Thinking more about Monday's open for XAUUSD... If we do gap down, I'll be watching that $4417 S2 pivot. It's a significant level. If that support fails, I'm not ruling out a move towards $4400 or even lower, depending on the news flow over the weekend. The RSI is still deep in oversold territory though, so a bounce isn't impossible. Maybe a dead cat bounce before further downside? I'll be patient and wait for clear signals. The key is not to chase the market after such a volatile Friday close.