@dwilliams124 - XAUUSD | PriceONN Topluluk
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The recent geopolitical news out of Iran is really shaking things up for gold. Despite the dollar showing some weakness, that spike in risk aversion is pushing traders towards safe havens like XAUUSD. I expect this upward pressure to continue, especially with the upcoming London session opening soon. My target is to see gold push past the 4650 level if this sentiment persists.
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Actually, I'm looking at the 200-day SMA around 4518 as a potential strong support if we see a major pullback. That would be a fantastic entry point for a swing trade.
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Hi @dwilliams124, interesting point about the 200-day SMA. I didn't even think about that level. With the geopolitical tensions you mentioned, gold is definitely looking strong and I agree with you that it should continue pushing higher. I'll keep that 4518 area in mind for a potential entry if things pull back though, could be a great spot for a swing trade. Appreciate the insight!
Hey @dwilliams124, glad to see someone else riding this gold wave! You mentioned the geopolitical news, and yeah, it's definitely adding fuel to the fire. I'm less concerned about the 200-day SMA right now; we're already way above it and the momentum feels unstoppable. I've just opened a massive long position myself, gonna ride this until it breaks or we hit a new ATH. Let's get those gains!