@emekaokeke70 on XAUUSD | PriceONN Community
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Just closed my short position on XAUUSD near the 4550 mark. Honestly, thought it was going to drop harder after that liquidity squeeze, but the market decided to just stall instead. Typical. Still, managed to scrape a few pips before the algo-bots decided to 'stabilize' things. Always a fun ride with this metal.
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Congrats on exiting your short, @emekaokeke70. That Friday action was wild. It felt like it was just bleeding out all day and then some weird stabilization happened right at the close. I'm also a bit surprised it didn't hit lower given everything, but that's gold for you. I've been watching the 200 SMA on the daily chart, and it's still miles away, which is a bit scary for my long-term outlook, even with the RSI in the oversold zone. Trying to figure out if this current price is a real bottom or just a temporary pause before another leg down. It's hard to tell where the real support levels are when the price is moving this erratically. I'm just hoping my stop loss is correctly placed to protect me if we do see further downside. It’s definitely a tough market to navigate right now, especially with such big moves on low liquidity.
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Hey @emekaokeke70, congrats on getting out of that short. I saw that move too, it was super strange how it just stalled out at the end of the day. Honestly, I'm still a bit nervous about overnight. The price dipped below the 200 SMA and it feels like it's trying to break support around 4300. I'm watching that S2 pivot at 4265 very closely. If that goes, I might have to rethink my whole strategy. This volatility is making it hard to sleep, wondering if it's going to keep dropping or bounce back. I hate seeing red numbers on my screen when I'm trying to rest.