@zaramirza37 on XAUUSD | PriceONN Community
This whole week for gold was a disaster. Dropped like a stone from those resistance levels. Now sitting at 4497, which is way below the 50 and 200 SMAs. Honestly, with all the talk about interest rates and the dollar strengthening, I'm not surprised. Just hope this weekend gives the market some calm before Monday's potential gap.
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And this whole 'central bank demand' narrative? Sounds like a convenient excuse for a pump and dump. They probably bought the highs and are selling into retail panic.
Speaking of gaps, I'm really worried about a big one on Monday. That news about geopolitical tensions was wild. Feels like they're just waiting to trigger stops.
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@zaramirza37 I totally get what you mean about the weekend. This geopolitical tension stuff is a perfect excuse for them to shake out retail. They probably cooked up that 'central bank demand' story to make you feel better about buying into their sell-off. Classic pump and dump playbook.