@justin1293 on XAUUSD | PriceONN Community

Seriously though, the news about Iran and oil prices dropping is making me nervous. If oil keeps falling, does that put more pressure on gold to also come down? I thought the geopolitical stuff was supposed to keep it high, but now I'm not so sure. Maybe I should have set a tighter stop.

Hey @justin1293, I get what you mean about buying tops, it's a classic beginner trap. I'm kinda new to gold options myself and still figuring out the best entry points. That news about Iran reopening the Strait of Hormuz seemed pretty big, and it definitely pushed gold higher on Friday. I'm not sure if that's enough to sustain a break past 4900 though, especially if oil prices start to dip again. Maybe it was just a short-term reaction? I'm trying to avoid chasing moves too, but sometimes the FOMO is real when you see it running. My plan is to wait for a clear breakout or a pullback to a solid support level before considering any positions next week.

@justin1293 I totally feel you on buying the tops, it's a killer! I did the same thing yesterday. This whole Iran situation has me confused, I thought it would push gold up but it's just kinda sideways. So frustrating!