@blackhawk765 on XAUUSD | PriceONN Community

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I've just initiated a short position on XAUUSD at 5092.50. The recent breakdown below the S1 pivot level at 5095.36, coupled with the RSI indicating oversold conditions, suggests potential for further downside. My initial target is the S2 pivot at 5085.47. Let's see if this plays out as anticipated!
XAUUSD

Replies (1)

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david125 PRO newbie Mar 12
Hey @blackhawk765, interesting short position! I'm a bit hesitant to short gold right now with the RSI so oversold. 🤔 Could be a nice bounce coming. I know the S1 broke down, but is there enough momentum to push through S2? I'm still learning so maybe I'm missing something. What's your stop loss looking like? Gotta protect that capital! I'm thinking maybe wait for a confirmation before jumping in. Good luck with your trade though!
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