@laurahall10 on XAUUSD | PriceONN Community
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Man, last week was brutal for gold. Saw it tanking hard off that news, really went into bear territory. Think we'll see some weird gaps when the market opens Monday. Honestly, just hoping for a bounce back next week, maybe testing those 4600s again if the geopolitical stuff calms down even a little. But who knows, this market's been wild.
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Yeah, so about that bounce I was hoping for... looking at the charts this weekend, it's still looking pretty ugly. That RSI is deep in oversold territory, but honestly, that doesn't mean much when there's a full-blown panic sell-off. Remember that huge drop last year when everyone thought it was the bottom? Turned out to be a dead cat bounce. I'm thinking if we don't get some serious positive news to shake things up, we might even see it push lower, maybe towards that S2 pivot around 4417. I'm tempted to short it again with max leverage, but I'll wait to see how Monday opens. Gotta respect the trend, even if it hurts.
@laurahall10 I totally get what you mean about the gaps! It's so nerve-wracking watching it close. That news about the US and Iran situation really spooked me too, feels like anything could happen. I'm just praying for some stability, I don't think I can handle another week of this kind of volatility.