@daniel96 on XAUUSD | PriceONN Community
Weekend thoughts on XAUUSD. Given the close near 4830 and that news about Iran, I'm curious what kind of gap we might see Monday. Any thoughts on potential levels or opening sentiment from anyone?
Replies
Actually, on second thought, the RSI was pretty neutral around 53 Friday. Might mean we don't get a huge gap unless there's major overnight news. Still watching those pivot points.
J
@daniel96 Totally agree about the gap risk. With that 4830 close and the Iran Strait news, I'm expecting a decent gap up on Monday morning. Hope it doesn't get immediately slammed though.
Z
Hi @daniel96, interesting point about the RSI being neutral. I was also looking at that 4750 level and the news about the Strait of Hormuz, which is usually a bullish catalyst for gold. But you're right, if the RSI wasn't screaming oversold or overbought, maybe a huge gap isn't a given unless something dramatic happened overnight. I'm always a bit nervous about those overnight gaps, they can wipe out your carefully planned trades. Those pivot points you mentioned are definitely worth watching on Monday morning, especially the R1 and R2 levels. Let's see if price can push through them.