@warda887 on XAUUSD | PriceONN Community

Hey @warda887, I totally get what you're saying about that weekly chart. That bearish trend line is pretty scary, and seeing the price way below the 200 SMA is not a good sign at all. About the RSI at 29 though, I'm not sure if it's a real buy signal either. Honestly, with how hard gold has been getting smashed this week because of all that commodity news, I think that low RSI might just be showing how much selling pressure there's been. It feels more like a 'we're in trouble' signal than a 'buy now' signal to me. I'm holding off on any new gold trades until we see some clear confirmation, maybe a bounce off a support level or some actual buying volume. This whole 'smart money' is really shaking out the retail traders right now.

Hey @warda887, I agree the weekly trend is super bearish. That RSI at 29 is definitely more of a 'caution, things are ugly' signal than anything else right now. I wouldn't be looking to buy into this weakness.