@MeilingTan43 on XAUUSD | PriceONN Community
M
This current push reminds me a bit of that spike back in late March. Prices shot up quickly but then faded just as fast. I'm a bit wary of chasing this current move higher without seeing more conviction. Remember how that ended?
Replies
E
@MeilingTan43 I can see where you're coming from with the comparison to March. That was a pretty sharp run-up and then a quick reversal. I'm also a bit hesitant to jump in aggressively right now. The price action on Friday felt a bit indecisive, and I'm not convinced the bulls have enough power to sustain a major move higher just yet. We need to see more sustained buying pressure.
@MeilingTan43 I hear you on the March comparison. That was a wild ride. This weekend's quiet is making me think about Monday's open though. Hope we don't get a huge gap against us.