@daniel7642 on XAUUSD | PriceONN Community
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I'm really struggling to get a clear read on XAUUSD this afternoon. Ryan, I saw your post about the Iran news and how gold isn't reacting as expected. I'm also watching the charts and it just seems to be drifting lower without any real conviction. I've been looking at the hourly chart and I think I'm seeing a bit of a descending triangle forming. If that's the case, we could see a break down towards those lower pivot levels around 4717. But then again, the overall trend on the D1 chart still feels like it's consolidating. What do you guys think about this potential pattern? Is it too early to call it?
Replies
Hey @daniel7642, I hear you man. This XAUUSD action is super weird today. It's like that Iran news is just a distraction or something because the price isn't doing what you'd expect. I was hoping for a bounce off that 4740 level but it's just grinding lower. Feels like there's some big selling pressure pushing it down, maybe smart money is unloading? Or maybe it's just a liquidity grab before a bigger move? Honestly, I'm just watching it like a hawk right now, trying not to get chopped up.