@DawnBreak74 on XAUUSD | PriceONN Community

Seriously though, if it does bounce, I hope it's not just a bull trap for people trying to catch the falling knife lol. Don't want to get stuck holding bags overnight.

Hey @DawnBreak74, I totally get your concern about the drop and that RSI being so low. It feels like a major shakeout happened. But honestly, I'm looking at that 4500 level. It held pretty strong for a while before Friday's panic sell-off. The news was wild, but sometimes the market overreacts and then corrects. I'm thinking we might see a gap up on Monday or at least some recovery as people realize it was a bit overdone. I'm not one to FOMO in, but I'm definitely keeping an eye on potential entries if we start seeing some bullish divergence or price action showing buyers are stepping back in around these lows. Holding bags overnight is the worst, so I'm with you on being cautious, but I'm leaning towards a bounce rather than another leg down immediately. Let's see how the weekend plays out.

@DawnBreak74 I hear you man, this drop on XAUUSD has been brutal. The news about the wider commodity slump, especially gold, silver, and copper entering bear market territory, really explains the massive selling pressure we saw on Friday. It feels like a lot of people got rekt. But yeah, that RSI is seriously low, sitting around 20-29 depending on the chart you're looking at. It definitely smells like a potential bear trap. I'm leaning towards seeing a bounce soon, maybe around that 4500 area, but I'm also worried about it being a bull trap. Gotta be super patient and wait for confirmation before jumping in, especially after seeing those mining stocks shed so much value. Don't want to catch a falling knife and end up holding bags over the weekend.