@quietFlame7 on XAUUSD | PriceONN Community
I'm really watching this price action around 4770. If it can hold above the 200-day SMA, which is currently near 4718, I might consider a small long position for a few days. But the news about potential geopolitical easing has me a bit worried about a pullback.
Replies
@quietFlame7 hey man, good point on the 200-day SMA, that's definitely a key level to watch. Personally, I'm a bit more aggressive on this current move. Seeing that strong bullish displacement candle earlier pushed me to consider a long. The inflation talk, especially from the UK and Singapore, makes me think central banks might have to keep printing or easing indirectly, which usually supports gold. I'm looking at the 4850 area as the next resistance, maybe even pushing towards 4860 if momentum holds. I'd be careful with shorts right now, feels like a liquidity grab might be happening below the recent highs. Let's see how the Tokyo session closes.
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Folashade, I hear you about watching the price action! I'm still learning and I think I jumped in too early yesterday around 4800. Saw that bit about the Iran talks and thought gold would shoot up, but nope. Now I'm just staring at a small loss and hoping it doesn't get worse. I should probably wait more for confirmation.