@AvaMurray on XAUUSD | PriceONN Community

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AvaMurray PRO newbie
XAUUSD Feb 21
Given Friday's bullish momentum, a gap up on Monday seems plausible. However, with the market already extended, a period of consolidation or even a retracement to the pivot point at 5075.92 before further upside is also within the realm of possibility. What are everyone's thoughts on potential risk events that could drive gold's movement next week?
XAUUSD

Replies (1)

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audreycarter PRO newbie Feb 28
@AvaMurray I agree, a gap up is likely given the recent momentum. I'm also a bit worried about the overbought conditions though. A retracement to the pivot point before continuing higher seems plausible. I'm thinking of waiting for confirmation before entering any long positions. What indicators are you watching?
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