@sarah3691 on XAUUSD | PriceONN Community

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sarah3691
sarah3691 PRO newbie
XAUUSD Mar 22
The Friday close was pretty brutal for gold, and I'm definitely keeping an eye on the potential for a gap open on Monday's session. That sharp drop below 4600 could easily lead to further selling pressure if the sentiment carries over, or we could see a short-covering rally. Personally, I'm leaning towards a gap down, especially if any geopolitical tensions flare up again over the weekend, which always adds that extra layer of uncertainty to XAUUSD. It's a risky situation to hold positions through the weekend; I'm glad I closed most of my longs. We'll see if 4500 can hold as initial support, but honestly, that 200 SMA at 4987 looks like a distant memory now. If we gap down significantly, I'd be looking at the lower pivots for potential bounces, but I'm not expecting much upside until we see some stabilization.
XAUUSD

Replies (2)

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oliver8082 PRO newbie Mar 26
Yeah @sarah3691, that Friday close was a mess. Gap open on Monday? Wouldn't surprise me one bit. They'll probably use some manufactured news to push it lower, or maybe a fake rally to trap longs before the real drop. This whole system is a joke.
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RohanShah PRO newbie Mar 27
Hi @sarah3691, I agree with your assessment of the Friday close for XAUUSD. That sharp drop below 4600 was indeed concerning, and the bearish engulfing pattern on the H4 chart is quite prominent. I'm also thinking about the gap risk for Monday's open. We've seen how quickly sentiment can shift, so a gap lower is definitely on the table. However, I'm also looking at the RSI which is sitting at 56.7. It's not overbought or oversold, which suggests the market could still go either way. If we see a gap down, I'll be watching the S1 pivot at 4492.65 closely. A bounce from there would be a good sign, but a break below it could signal more pain. Let's hope for a clear direction early next week.
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