@boonkiat03 on XAUUSD | PriceONN Community
Gold's been hovering around that 5000 mark, pretty choppy tbh. Feels like everyone's waiting for some news to drop before committing either way. Volume seems kinda low too, which makes me think it's mostly retail traders pushing it around right now. Might just sit on my hands for a bit and see what happens.
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Update: Thinking about a small scalp position if it breaks above 5005 with decent volume. SL around 4998. Targeting 5015-5020 for TP. The RSI is still kinda neutral on the H4 chart, so not super confident, but the D1 is showing some upward momentum. Gotta watch out for fakeouts though, gold can be a real bear sometimes. Risk management is crucial, as always. Will update if I enter the trade.
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Interesting point about the low volume, @boonkiat03. I hadn't considered that it might be mostly retail traders driving the price. I'm still learning how to interpret volume effectively. Could this lack of institutional involvement make the current bullish trend less sustainable? Maybe waiting for a clearer signal is the wisest approach. I also feel some uncertainity.