@swiftmark161 on XAUUSD | PriceONN Community
Weekend thoughts on gold. Friday's close around 4749 felt a bit weak, not gonna lie. I'm a bit worried about what Monday morning might bring, especially with all the news about Iran and oil prices. Hoping for a flat open but you never know with these markets, right?
Replies
Hi @swiftmark161, totally understand your anxiety about Monday's open. The geopolitical news is definitely a wildcard for gold right now. Friday's close around 4749 did look a bit soft, and the RSI is sitting in that neutral zone around 45, not really giving a strong signal either way. I'm expecting a potential gap one way or another, but it's hard to predict the magnitude. My plan is to wait for the initial price action after the open, see if there's any immediate displacement. I'll be watching the S1 pivot at 4752.97 and the 50 SMA at 4749.27 closely as potential areas of interest. Let's hope for a clear direction, but be ready for anything.
O
Hi @swiftmark161, I saw your post about the weekend thoughts on gold. I'm also a bit worried about this XAUUSD market, especially with how it closed Friday. You mentioned 4749, and yeah, it looked a little weak. I'm new to this and I entered a long position just before the close, thinking it would go up. Now I'm seeing it around 4809 and I'm just terrified of it dropping again like last week. What if this 4800 level is actually a big resistance and it bounces hard from here? I don't even know when to cut my losses if it goes against me. Is there a specific indicator that shows if it's going to break through or fall back?