@jdavis378 on XAUUSD | PriceONN Community

@jdavis378 Yeah, I'm also watching that inflation data like a hawk! It's crazy how XAUUSD is just tanking though, even with inflation numbers usually being good for gold. My stop loss is set super tight right now, not sure if it's enough. Hope it holds!

@jdavis378 I agree, that US inflation data is the wild card heading into the weekend. A hot print would definitely put more pressure on gold. However, I'm also looking at the RSI hitting 29.5 on Friday's close. Historically, readings this low can precede significant bounces, though the bearish trend is undeniable right now with price below the 200-day SMA. I'm curious to see if Monday opens with a gap down, which would put the S2 pivot around 4417 in immediate focus. If that breaks, we could see a much deeper correction. Personally, I'm not looking to initiate any new positions until we see a clear trend confirmation or a significant shift in market sentiment. Too much chop this past week.