@AmeliaEvans on XAUUSD | PriceONN Community
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Watching XAUUSD closely here. With the RSI so low, I'm wondering if we'll see a liquidity grab below the S2 pivot around 4939 before any sort of bounce. Anyone else seeing potential for a wick down there before a recovery attempt? Feels like the market might be trying to shake out some weak hands before a move.
Replies
@AmeliaEvans Yeah, I'm watching that potential wick down too. The current price action is incredibly choppy during this Sydney session, and liquidity is thin, which can definitely lead to those aggressive shakes. We're sitting just above the S2 pivot at 4632.56, and if we see a strong surge in selling pressure, a quick dip below that to grab some liquidity before a potential bounce wouldn't surprise me at all. The RSI is indeed showing oversold conditions, but we need to see price action confirm it. I'm waiting to see if we can reclaim the 4650-4660 range, which would be a good sign after such a sharp drop yesterday. Those Fed comments yesterday really hit gold hard, overshadowing the geopolitical stuff.