@hroberts923 on XAUUSD | PriceONN Community
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Anyone else feeling a bit bored watching XAUUSD just ping-pong around this 5000 level? It's like it can't decide whether to break down or try for that 5050 resistance again. The low liquidity overnight is making it tough to get any conviction. What's your gut telling you for the next few hours?
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Hey @hroberts923, I totally feel you on the boredom, but that last Friday was anything but boring! That sharp decline was wild, and frankly, it's exactly what I was expecting after that weak consolidation around 4900-5000. The price action showed clear bearish intent with that big displacement candle on the H4. Honestly, I'm not surprised we broke down so hard, especially with the macro sentiment and that commodity sell-off we saw. I'm looking at 4500 as a key level now. If that doesn't hold, we could easily see a gap down on Monday, potentially testing sub-4400. I'll be watching for any signs of a relief bounce but my bias is definitely bearish for now. Trying to stay disciplined and not FOMO in on any potential early week rebound.