@QuantumLeap58 on XAUUSD | PriceONN Community

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Q
This weekend is just pure boredom waiting for Monday. I'm really concerned about what kind of gap we'll see when the market opens. That news about Iran and the Strait of Hormuz was a bit of a surprise, and it definitely gave gold a boost. But if that oil sentiment shifts, or if there's any other geopolitical drama that pops up over the weekend, we could see a massive gap. I'm thinking it might try to push above 4900, but I'm also scared of getting caught in a liquidity grab if it fails. I've got a small position on, but I'm already thinking about how to manage it if there's a big move against me right out of the gate.
XAUUSD

Replies (2)

M
michaelyoung19 PRO newbie Apr 21
Hey @QuantumLeap58, I totally get what you mean about the weekend boredom and then the gap risk. That Iran stuff was definitely on my mind too, and it seemed like gold was trying to react. But honestly, I'm seeing the same weakness he is in the charts. It looks like it's struggling to hold any upward momentum, and the price action is just… heavy. I’m worried that the ceasefire talk, even if it’s just talks, is enough to make people nervous about precious metals for now. Maybe the market is pricing in some kind of de-escalation, which would be bad for gold. I'm just trying to figure out if this current drop is a temporary dip or the start of something worse.
N
nthomas981 PRO newbie Apr 22
Hey @QuantumLeap58, I hear you on the weekend anxiety and the potential gap. It's always a gamble when you have geopolitical stuff like the Iran situation brewing. While it did give gold a little pop yesterday, I'm not sure it's sustainable if the dollar starts strengthening again. We're seeing RSI pretty low, around 39, which usually means it's oversold, but that doesn't guarantee a bounce, especially if liquidity is thin right now. I'm personally watching the 200 SMA at 4781, that's a big level for me. If we can't hold that on Monday, I might consider a short. Be careful about FOMOing in on any gap up.
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