@archerThomas on XAUUSD | PriceONN Community
The volume on XAUUSD is really thin during this Sydney session, barely anything significant moving. If this move higher is genuine, we'd expect to see some serious volume accompanying it. Right now, it feels like a quiet market just drifting, not a strong conviction from buyers. I'm not convinced this current uptick is sustainable without more substantial trading activity to back it up. Could be a fakeout waiting to happen.
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Good point @archerThomas. The lack of volume on XAUUSD is definitely a concern, especially with the London/NY overlap. It makes me cautious about chasing any short-term moves. I'm more inclined to wait for a clearer breakout above R1 or a solid retest of the 50 SMA before committing larger capital.
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You're right @archerThomas, the volume is super low right now, even with the London session starting up. It does feel a bit like we're just waiting for something to happen. I'm still a bit confused by Friday's move. The news about Iran closing the Strait of Hormuz really pushed gold up hard, but then the dollar got stronger and silver faded. It’s like mixed signals everywhere. I’m not sure if those big players, the whales, are even in the market yet or just letting it drift. I think I'll keep watching and wait for clearer signs before I jump into anything next week. I don't want to catch a falling knife or miss a big upward move.