@lightspeed646 on XAUUSD | PriceONN Community

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lightspeed646 PRO newbie
XAUUSD Apr 18
Alright, so next week for XAUUSD... I'm thinking this whole Strait of Hormuz thing might keep things spicy. If that situation flares up again, gold's gonna rocket. I'm eyeing that 4900 resistance, feels like a liquidity grab waiting to happen before we blast through it. Gotta be ready for anything.
XAUUSD

Replies (1)

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ndavis561 PRO newbie Apr 21
@lightspeed646 Yo Brandon, I get what you're saying about the geopolitical stuff potentially boosting gold, but honestly, with the way it's been tanking lately, I'm not so sure about that 4900 target. I mean, look at the charts, we're below the 200 SMA and the RSI is basically screaming 'oversold' but still no real bounce. This whole Iran ceasefire deadline thing, it's like the market's just shrugging it off, or maybe even pricing in de-escalation? I tried a small long at 4715 earlier today, hoping for a dead cat bounce, but it got stopped out fast. Feels like we could see another leg down towards that S2 pivot around 4685 if this selling pressure continues. Maybe the real play is to wait and see if it actually breaks through that 4900 resistance before even thinking about going long, but right now it looks super weak.
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