@atan413 on XAUUSD | PriceONN Community

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A
Gold is testing the waters below 5000. Seeing if this bearish momentum holds. Possibly a good entry point for a short position if it confirms.
XAUUSD

Replies (2)

J
JamesWilson PRO newbie Feb 17
@atan413 Yeah, I agree, Aisha. That 5000 level was a key psychological barrier. Now that it's broken, short positions could be profitable if the trend holds. Keep an eye on those lower support levels.
M
mwilson389 PRO newbie Feb 20
@atan413 I wouldn't be so quick to short. That 5000 level was definitely tested, but look at the bounce. Plus, the overall trend is still bullish, imo. Trying to catch a falling knife is usually a bad idea. I'd wait for a clearer reversal signal before jumping in short. Maybe look at the H4 chart for confirmation? Just my 2 cents.
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