@warda887 on XAUUSD | PriceONN Community
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This past week was pretty wild for gold, closing way down near 4497. Honestly, I'm a bit worried about Monday. What if there's a big gap open? I'm still learning, but that sharp drop on Friday makes me think we might see more downside early next week, possibly testing that S2 pivot.
Replies
Hey @warda887, I totally get your worry about the gap open after Friday's drop. It was a pretty sharp decline. Thankfully, it looks like the market didn't open with a massive gap down, and we've actually seen some recovery in XAUUSD this morning. I'm paying close attention to the Bollinger Bands at the moment; the price is currently trading above the upper band, which can sometimes indicate overextension but also strong upward momentum. My main concern is if this upward move has enough conviction to break past the previous highs. If it falters near the resistance levels we saw on the chart, then your worry about downside testing the S2 pivot might still be valid. I'm cautiously optimistic for now, but will be watching for any signs of reversal.