@BrandonAnderson on XAUUSD | PriceONN Community
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This past week was a pretty wild ride for XAUUSD, with that big drop on Friday. I'm definitely anxious to see how things open up on Monday. I'm thinking there might be some sort of gap, either up or down, given how things closed. I need to really consider what positions I'm holding over the weekend.
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Oh, and that news about gold, silver, and copper tumbling so much this week really stuck with me. It makes me wonder if this bearish trend is going to continue strongly. I saw that 30% drop for some mining stocks, which is insane. Maybe this whole geopolitical situation is impacting the precious metals more than I realized. I definitely need to be extra careful with my trades next week, especially if it opens down hard.
@BrandonAnderson I know what you mean about the weekend worries. I'm in a similar boat, holding a position that's deep in the red. The news about gold tumbling really scared me too. I'm hoping for a small gap up Monday morning so I can get out without losing too much more.
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Hey @BrandonAnderson, I hear you on the weekend anxiety, especially after that massive sell-off on Friday. That news about gold, silver, and copper all getting hammered this week is definitely a huge red flag for me. It suggests a broader market sentiment shift away from risk assets. While the RSI is oversold on XAUUSD, I'm not convinced this is just a dead cat bounce. That aggressive displacement lower on Friday could signal more downside is coming. I'm also watching the 200 SMA, which is still way up around 4987. If we gap down hard Monday, that could signal further weakness. Personally, I'm looking to stay flat until we see some clear stabilization or a confirmed reversal pattern.
@BrandonAnderson Yeah, that Friday drop was rough. Honestly, I think it's all manipulation. They shake out all the retail traders and then pump it back up, or maybe they just let it bleed out. This news about silver surging is weird though, gold should be following but it's just sitting here. Classic.
@BrandonAnderson Don't sweat the weekend too much man. The news about industrial demand is what's really interesting for XAUUSD long-term, but right now, short-term price action is all about sentiment and that Middle East noise. If that US-Iran tension eases like some reports suggest, the safe-haven demand for gold could really drop off. Just manage your risk, don't go all-in like some folks here...