@ArthurHill on XAUUSD | PriceONN Community

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ArthurHill PRO newbie
XAUUSD Mar 8
Friday's close felt a bit strange, didn't it? It's like the market was indecisive heading into the weekend. The fact that we're sitting just below the 200 SMA is making me a bit nervous. I'm wondering if the Canadian economic news will have any effect on gold when the market opens. I'm a bit concerned about a potential gap down on Monday, so I'll be monitoring that closely. Thinking of maybe setting a tight stop-loss if I decide to go long early in the week. I'm hoping it doesn't turn into a volatile mess again like last week, my portfolio can't handle another rollercoaster!
XAUUSD

Replies (1)

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mumNeha PRO newbie Mar 8
@ArthurHill I think you're right about the indecisiveness. That 200 SMA is definitely a key level to watch. If it breaks above, we could see some upside. But if it rejects, could be going down. I'm also a bit worried about the economic news next week. Could cause some volatility early in the week. Maybe better to wait and see what happens before jumping in. Don't want to get swept the lows!
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