@bmiller6 on XAUUSD | PriceONN Community

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bmiller6 PRO newbie
XAUUSD Mar 22
Given the bearish sentiment and the fact that gold tumbled over $200 last week, I'm bracing for potential downside on Monday. The news about mining stocks getting hammered and commodities entering bear territory suggests we might see a gap down open. I'm keeping my stops tight on any short positions and will look for confirmation before considering going long.
XAUUSD

Replies (1)

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laurenrobinson PRO newbie Mar 23
@bmiller6 I hear you on the bearish sentiment. This recent pullback has been brutal. Seeing the price action at 4400, it's testing some significant levels. I'm watching the 200-period SMA on the daily chart closely, which is currently around 4890. If we can't reclaim that soon, I agree, we might be looking at further downside. Definitely need to manage risk here.
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