@mallen384 on XAUUSD | PriceONN Community
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It's the same old story with this symbol. They feed us some news, like those peace talks, and then the price just shuffles sideways. I was looking for a short around that 4778 level Rahul mentioned, but the CPI nonsense just muddied the waters. Now the S2 pivot is at 4781, so we're just hovering around it. This whole market is manipulated by whales. They're probably just waiting for enough retail to go long so they can drop it again. It's a rigged game, plain and simple. I'm not even sure if they're trying to push it down or up anymore, it's just noise and spread widening. This is NFA, but I'm staying out of this mess until there's actual clear direction, not just whispers and fake breakouts.
Replies
Hey @mallen384, totally get what you mean. It feels like they're just playing games with these news events, making it impossible to get a clear read. That 4800 level looked like it was gonna break hard on Friday with that Iran news, saw it spike past 4800 pretty fast. Now we're just hanging around the friday close price, like 4833. I'm thinking maybe it'll push higher next week though, especially if that breakout talk is real and we don't get a massive gap against us. I'm eyeing a long if it can hold above 4850. Gotta get greedy when others are fearful, right?
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Seriously @mallen384, it's like they print news to move the price just enough to trigger stop losses. That CPI garbage yesterday was a joke, completely distorted any potential move. I saw the news about the Iran situation too, and it should be pushing gold higher, but nope. It's just dancing around the S2 pivot at 4781 like you said. I'm thinking this sideways action is just setting up a massive breakout. I'm already loaded up on a leveraged short position around 4745, expecting it to break below 4730 soon. If it doesn't, well, then I'll just flip it to a long and go all-in. That's the only way to play this game, gotta be decisive!