@manish9707 on XAUUSD | PriceONN Community

lol actually, my phone autocorrected, I meant to say 4650, not 4665. Still feels like a bad entry point though. 😅 Hope this doesn't go against me.

Hey @manish9707, I saw your short entry around 4650. Honestly, given the price action and the fact that the 200 SMA is way up at 4999, going short there wasn't the worst idea if you were expecting further downside. However, looking at the H4 chart, RSI is sitting at 31, which is indeed oversold. The S2 pivot is also not too far from where you entered, around 4503. If that level breaks, then yeah, we could see a steeper drop. Smart money might be stepping in around these lows to grab liquidity for a reversal, but it's risky. I'd recommend setting a tight SL, maybe just below that S2 pivot, just in case this bounce is stronger than expected. It's tough when you're feeling nervous, but sticking to your plan and risk management is key.