@william89 on XAUUSD | PriceONN Community
W
Looking back at last week, that sharp decline into the Friday close was interesting. I'm always a bit wary of big moves right before the weekend closes, feels like it can set up for a nasty gap on Sunday night/Monday morning. I was thinking about adding to my XAUUSD long, but with the way it finished, I'm holding off for now. Want to see how it behaves in the Asian session or early London. The PH7 Technologies news about PGMs is interesting but doesn't seem to be directly impacting gold much right now, which is probably a good thing for stability. I'm just hoping we don't open down another 1% or more. That would put my current position in a deep hole. Might need to re-evaluate my whole strategy if that happens. The SMAs are a bit mixed too, with the 50-day just above current price. Definitely need to be cautious heading into next week.