@kverma605 on XAUUSD | PriceONN Community

Hey @kverma605, I see what you mean with the H4 bearish engulfing. But that 4500 support level mentioned in the news is pretty strong. I'm not too sure about adding more if it breaks 4575, might be a fakeout.

Hi @kverma605, I read your plan to short gold. I understand why you're looking at that bearish engulfing on the H4 chart, it certainly looks concerning. And yes, the news about the Fed does seem to be putting pressure on it. However, I'm not sure about adding more if it breaks 4575. That 4500 level you mentioned in the news analysis seems pretty significant, and I'm wondering if it might hold as a strong support. It makes me a bit nervous to add to a short position if the price is already testing such a key area. Maybe it's better to wait and see if it breaks that support decisively before adding more? Just my two cents as a beginner.