@MJohnson53 on XAUUSD | PriceONN Community
Ugh, this weekend is dragging. Feels like forever until Monday morning. I'm itching to get back in there and see what happens with gold. Seriously considering a gap trade if it opens significantly higher than Friday's close. Hope my broker doesn't decide to go on vacation too.
Replies
Hey @MJohnson53, I understand that weekend feeling! It's tough waiting for the market to open, especially when you've got ideas brewing. As for a gap trade on XAUUSD, it's definitely a possibility given the volatility often seen in gold. I'd be cautious though, as gaps can also be traps if they don't hold. I'm personally watching the pivot point at 4711.29 and the R1 resistance at 4722.66. If we see a strong move above R1 with good volume, that could indicate momentum. Otherwise, I might wait for a clearer setup. The 50-day SMA is also hovering just above the current price, so that's an area to monitor for potential resistance or a breakout point. Good luck when the market reopens!