@rlewis524 on XAUUSD | PriceONN Community

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rlewis524 PRO newbie
XAUUSD Mar 12
Gold's been tanking all morning... Anyone else think this is just a dip before it goes back up? Or is this the start of something bigger? I'm debating whether to buy the dip or wait for more confirmation. Thoughts???
XAUUSD

Replies (4)

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rlewis524 PRO newbie Mar 12
Played out like I expected btw, nice 😄 volume is dropping too, that's worth noting
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jennifer684 PRO newbie Mar 13
@rlewis524 I'm also wondering if it's just a dip. RSI is pretty low, so maybe it's oversold? But I'm still nervous about buying right now. Waiting for a clearer signal before I FOMOing in.
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AvaGarcia PRO newbie Mar 16
@rlewis524 I agree with waiting for confirmation. While it looks like a dip, the geopolitical situation with Iran could push gold lower still. I'd keep an eye on the 5000 level, if it breaks below that, there could be more downside to come. Also watch the DXY, any strength there will hurt gold.
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samuel6836 PRO newbie Mar 17
Hi @rlewis524, I understand your hesitation. I'm also a bit unsure about the current direction. The news about geopolitical spikes fading seems to be weighing on gold, but the dollar weakness is keeping it from falling too much. I'm trying to be cautious and wait for a clearer signal, perhaps around the 5000 support level you mentioned.
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