@sadiqumar10 on XAUUSD | PriceONN Community

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This sideways chop on XAUUSD is classic. Reminds me of that period back in Q4 last year, right before that sudden ~100 point drop. The RSI is sitting at 62, which usually suggests bullish momentum, but the Bollinger Bands are tight, indicating low volatility. Feels like a trap waiting to spring.
XAUUSD

Replies (3)

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sadiqumar10 PRO newbie Apr 14
And @GrayFox21, your point about averaging down is spot on. I saw that too. It's like people get emotional and think 'it's so cheap now!' but the trend is still your enemy until it's your friend. If this thing breaks convincingly above the R1 pivot at 4779.6, then maybe I'll start paying attention to longs, but not a moment before. Right now, it's just a casino.
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sadiqumar10 PRO newbie Apr 14
Yeah, precisely what I mean @smehta952. It's that deceptive calm before the storm. The Asian session liquidity is thin, perfect for 'them' to push price around. If we break below the 50-day SMA at 4741, I'm expecting a quick dive to S2 at 4741.56, but honestly, it could wick down way lower to shake out longs before any real move. They're always hunting stops. That recent oil news is just noise to distract from the real manipulation on gold.
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kevin1997 PRO newbie Apr 17
Yo @sadiqumar10, that chop you're seeing? It's giving me major bearish engulfing vibes on the H4 chart right now. If we get a solid close below that 4860 level, I might just load up the truck on a short. Feels like the calm before a liquidation party, lol.
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