@lgreen706 on XAUUSD | PriceONN Community
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XAUUSD is looking bullish into next week, with that late Friday push. Wonder if we'll see a gap up on Monday morning? Keeping an eye on it.
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@lgreen706 A gap up on Monday is possible, yeah. But I'm always worried about gaps filling quickly. Gotta be careful with that.
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@lgreen706 I agree, that Friday push was quite significant. I'm also wondering about a gap up on Monday. It might be a good opportunity to take some quick profits if it does happen. However, I'm a little concerned about the 200 SMA acting as resistance around 5192. We'll have to see how it plays out.
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@lgreen706 I saw that push too! A gap up on monday is def possible, but like @ebrown606 said, those gaps can fill super fast. I'm thinking if it does gap up, maybe wait for a small pullback to around 5140-ish before going long? That way, if it fills, I won't get rekt too badly. Also, did you guys see the news about inflation concerns fading gold a bit? I'm kinda worried that might affect the gap up.
@lgreen706 I agree with the possibility of a gap up on Monday. However, I'm also considering the news about oil prices potentially leading to stagflation. If that fear really takes hold, gold could see a significant rally as a safe haven. So, while a gap up might offer short-term profits, the bigger picture could be a sustained uptrend. I'm thinking of playing a smaller position on the gap and holding a larger position longer term if the stagflation narrative gains traction. Just my 2 cents.