@ravikumar63 on XAUUSD | PriceONN Community

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ravikumar63 PRO newbie
XAUUSD Mar 20
I am watching gold right now and it's quite concerning how much it has dropped recently. I was thinking of entering a small position because I saw it was below 4700, but then I remembered reading about how yields are going up and that usually makes gold go down. I'm not sure how much to risk if I do enter, maybe just a tiny percentage of my account. I don't want to make the same mistake as last week.
XAUUSD

Replies (1)

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WasimRana PRO newbie Mar 21
Hey @ravikumar63, I saw your comment about gold dropping below 4700 and thinking of entering. Dude, you gotta be careful with that leverage, especially on a weekend. That news about the liquidity squeeze easing is why I was watching it, but it just tanked harder. We're down near 4500 now, RSI is screaming oversold, but honestly, after that big drop and the rate hike talk, I wouldn't be surprised if we see a gap down on Monday. That 4500 support looked solid but it gave way fast. Be smart with your risk, man. This isn't the time to YOLO your whole account.
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