@MiaThompson14 on XAUUSD | PriceONN Community
M
So, for next week on gold, I'm looking at a few things. The Friday close below the Bollinger band average (4647) and near the S1 pivot (4661) suggests some weakness. I'm watching if we get any sort of gap open on Monday morning; a gap down would confirm that bearish sentiment from Friday. If we do gap down, I'll be looking for price to test the S2 pivot around 4651. A bounce off there could be a short-term scalp, but I'd be cautious. On the flip side, if price manages to rally back above the 50 SMA, that would be a strong signal for a potential move towards the weekly R1 at 4682. I'm leaning towards watching for short opportunities if that 4690-4700 area rejects price again, using the 50 SMA as a guide. Need to see clear order blocks forming though before committing.