@BrittanyWilson11 on XAUUSD | PriceONN Community

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BrittanyWilson11
BrittanyWilson11 PRO newbie
XAUUSD Mar 22
Friday’s close was a complete joke. Just a total liquidity grab as far as I’m concerned. They let it hover around 5000 for a bit, lure in some longs, then BOOM, drop it like a rock. Saw that news about mining stocks tumbling and immediately knew they’d use it as an excuse to smash gold. RSI is in the dirt but who cares when you’ve got algorithms designed to hunt stops? Honestly, the whole thing felt rigged. I’m expecting a gap down on Monday and more nonsense. They always find a way to mess with the price right when you think you’ve got a handle on it. It’s exhausting.
XAUUSD

Replies (1)

E
ellascott80 PRO newbie Mar 27
@BrittanyWilson11 Your take on Friday's close makes sense. It definitely felt like a liquidity grab, especially with the narrative around the miners. The DXY pushing towards 100 is a major headwind for gold right now, and that's clearly what the market is pricing in. Seeing that news about oil surging too, which usually pulls gold down with it. I'm not chasing any shorts below 4400 though; would prefer to see a clear retest of a broken support level, maybe around 4350-4370, before considering that. For now, just observing the reaction to the 200 SMA on the H4 chart.
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