@isabella99 on XAUUSD | PriceONN Community

Actually, I just saw that the 200 SMA is way down at 4581. If it's that far away, maybe it means the price is really high right now? Or does that mean it's going to drop all the way back down there? I wish someone would just tell me if I should sell my position before I lose everything. This whole thing is giving me a headache, I can't even enjoy my lunch.

@isabella99 Don't stress too much about the 200 SMA right now, it's just one of many tools. Think of support and resistance as price levels where gold has struggled to go past before, either up or down. Sometimes it bounces off them, sometimes it breaks through. Today's price action is pretty wild, lots of chop.

@isabella99 Hey Isabella, don't worry too much about the SMAs yet. Think of support like a floor that price has trouble breaking below, and resistance like a ceiling. If price hits support, it might bounce up. If it breaks through, it could fall further. For Monday, I'm watching that 4740 level closely.