@AmeliaRodriguez20 on XAUUSD | PriceONN Community
Honestly, this whole setup on XAUUSD feels like a massive bull trap waiting to spring. We've seen a decent pop, but look at the RSI hovering around 68, and we're still below that 200-day SMA. The market makers love to shake out retail longs just before a big move down. I'm keeping my powder dry and watching for a clear breakdown, not getting caught in this fake rally.
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Seriously though, if you're listening to @fcarter366 about risk management on gold... lol. This is the moment to go full DEGEN. 100x leverage long here or you're just wasting time.
And that Liberty Gold news selling off projects? Probably just signal that the smart money is exiting the physical gold market before this thing tanks. They're not in it for the long haul with these small projects.
Amelia, I don't know about bull traps, that sounds complicated. But this Fed news is stressing me out. If they hike rates, does that mean I should sell my gold?? I bought some earlier and it's not doing great. I don't want to be a bag holder...
Hey @AmeliaRodriguez20, I see your point about the RSI and the 200 SMA. It's definitely worth being cautious. However, that surge on Friday was significant, and with the ongoing geopolitical tensions, I think we could see continued upward pressure, at least in the short term. Will be interesting to see how it plays out.