XAUUSD is showing a potential short setup here. Price broke below the pivot point and is currently testing S1 at 4974.83. Looking for confirmation with a break below S2 at 4962.21 for a further move down. RSI is neutral, but a break lower could signal strong momentum.
Update: Confirmed the break below S2. Targeting 4950 as the initial TP, with a tight SL just above 4975. Let's see how this plays out!
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rWright31PROnewbieFeb 28
Ethan, short setup? 🤔 I'm not so sure, mate. With that news hanging over the market, I'm skeptical. Yeah, it broke the pivot, but S2 might not hold with the current momentum. Looks like gold is heading to 5300 area, maybe even higher. Keep an eye on that news cycle, it's driving everything right now.
