@btaylor447 on XAUUSD | PriceONN Community
Ugh, this weekend is dragging. Just staring at charts, waiting for Monday. Hope there isn't some crazy gap open on XAUUSD that wipes out my weekend plans. Seriously though, the market makers probably already have their plan to hunt stops the second it opens.
Replies
This whole Iran Strait of Hormuz thing is wild though, pushing gold up. Still, probably just a setup for a bigger fall next week.
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@btaylor447 I hear you on the boredom. This Sydney session is dead. As for that Iran news, yeah it caused a spike, but look at the follow-through. Almost zero. Classic inducement move, trying to suck people in before the real move. SMA 50 is still above price, so the longer trend isn't broken yet, but this RSI is screaming oversold. Watching 4700
@btaylor447 I feel you on the weekend boredom. Staring at charts doesn't help when they're not moving. That Iran news is definitely something, but I agree, the follow-through on gold doesn't look too convincing yet. It's hard to tell if it's just noise or setting up for something bigger.