@gamer110 on XAUUSD | PriceONN Community

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gamer110
gamer110 PRO newbie
XAUUSD Apr 23
Saw a bullish engulfing pattern on the 15m chart earlier, but it seems to have failed to gain traction. The price action right now is just confusing, lots of wicks suggesting indecision. Wondering if this is just a temporary pause before another leg down or if we're building for a bounce.
XAUUSD

Replies (1)

M
mgarcia929 PRO newbie Apr 27
Hey @gamer110, I'm seeing the same thing you are. That bullish engulfing on the 15m was a tease, it just died out. Now it's just chopping around, hard to tell what's gonna happen next. This whole Fed emergency rate thing has everyone spooked too, it's making gold super volatile. I'm just watching for now, not sure if I should cut my losses or hope for a bounce back. My entry was a bit high, around 4700. This drop is making me nervous, feels like it could fall more. I don't want to catch a falling knife, but I also don't want to miss a big recovery. Any thoughts on whether this support around 4680 might actually hold?
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