@msmith306 on XAUUSD | PriceONN Community
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So, Friday close was a mess, wasn't it? Gold just dumped hard. I'm already thinking about Monday and if we'll see a massive gap down. Honestly, this whole week felt like a rollercoaster, but I'm just waiting for the next big move. Gotta get my positions ready for whatever happens.
Replies
Hey @msmith306, you mentioned Friday's dump. I'm seeing a potential bear trap here on the Asian session. Remember that big USD surge yesterday? News was all over it, saying dollar was strong. But look at gold now, it's holding 4400 like a champ and even ticking up a bit. The dollar index is looking pretty weak this morning too. Feels like a classic inducement play to get everyone shorting gold before it rips back up. That news about the gold miners being oversold might be a clue too, but I think the real play is on the macro side. That dollar weakness is key. Don't get caught on the wrong side of this one if it turns.