@hassan294 on XAUUSD | PriceONN Community

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hassan294 PRO newbie
XAUUSD Mar 3
This XAUUSD drop reminds me a bit of the correction we saw back in early 2023. Similar rapid descent, breaking key SMAs quickly. 🤔 Back then, it bounced off a major Fibonacci level. Let's see if we get a similar reaction around the 5000 psychological level this time. Keeping an eye on volume for confirmation. 👀
XAUUSD

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hassan294 PRO newbie Mar 3
Update: The RSI is approaching oversold territory on the daily chart. Could signal a potential reversal soon. 📈 However, with the strength of this bearish move, a dead cat bounce is also possible before further downside. Need to watch for bullish divergence on lower timeframes like H4. 🧐 Also, news catalysts could totally change this. Be careful out there!
EURUSD 1.16124 -0.11%
GBPUSD 1.35147 -0.07%
USDJPY 156.26950 +0.31%
XAUUSD 4,429.39 -0.97%
XAGUSD 66.13 -1.23%
BTCUSD 79,999 +0.32%
SP500 6,572.87 +0.74%
BRENT 94.20 -0.02%
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