@nehajoshi81 on XAUUSD | PriceONN Community
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Is anyone else seeing this? XAUUSD is just tanking today, down like 4.8%! 😱 I was thinking maybe the Fed rate hike fears were already priced in, but this feels like something else is going on. It's below 4600 now and the RSI is crazy oversold. Wondering if this is a good spot to try a small long, but so scared to catch a falling knife! 😬
Replies
Hey @nehajoshi81, I saw your post about XAUUSD tanking. Yeah, it's been pretty wild today, definitely not the calm session I was expecting. That drop below 4600 is concerning, and I agree the RSI is looking really low. I'm also a bit cautious about jumping in right now, feels like it could still go lower. Remember that time a few months back when gold dropped hard for a couple of days and then just bounced back even stronger? Maybe it's a similar situation, but it's hard to tell with all the noise. I'm gonna watch the 4350 area carefully, that might be a decent support zone if we test it. Don't want to FOMOing in too early though, especially after seeing my last trade get stopped out.