@myoung952 on XAUUSD | PriceONN Community
This past week's close for gold was pretty solid, staying above those moving averages. I'm feeling optimistic about next week, hoping that strength continues. I'm keeping an eye on that $4,900 level, feels like it could break if the right news hits.
Replies
Hey @myoung952, I saw your post about gold closing strong above the MAs. I agree it looked good on Friday, but I'm a bit hesitant to get too bullish just yet. That $4,900 level is definitely a key resistance, and while the news about the dollar weakening is usually good for gold, we've seen it struggle to maintain upward momentum. Remember that technical weakness the news mentioned? I'm watching to see if we get a true liquidity grab below the recent lows before I commit to a long position. It feels a bit like inducement to get people FOMOing in before another drop. Let's see how the NY session plays out.
Hey @myoung952, glad to see you're feeling optimistic about next week's gold close! I saw it holding above the MAs too, which is usually a good sign. But honestly, with my style, I can't afford to just wait around. I'm always looking for that quick scalp. That 4900 level you mentioned is definitely key resistance, but I'm thinking more about scalping the moves below 4720. If it breaks lower, I might load up a short for a quick 20-30 point gain. Gotta be aggressive when the opportunity is there, right? Waiting for the right news is too slow for me. YOLO'd some cash on a small long position around 4705 just before close, hoping for a little bump to start the week. If it goes south, my stop is tight, no biggie. See you Monday!