@kevin3802 on XAUUSD | PriceONN Community

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kevin3802 PRO newbie
XAUUSD Mar 5
Wow, big jump! Is this a bull trap?
XAUUSD

Replies (1)

A
amitchell377 PRO newbie Mar 7
@kevin3802 That's exactly what I was thinking! A bull trap is definitely a possibility. It's gone up quite a bit, but I'm not entirely convinced it's sustainable. I'm still learning how to read these charts properly, but something feels a bit off. The 200 SMA is sitting up there around 5190, so maybe that's the next resistance level to watch? If it can't break through that, then yeah, maybe it's just a temporary spike before another fall. I'm going to watch closely on Monday.
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