@avayoung42 on XAUUSD | PriceONN Community

Yeah, the 50 SMA on the H4 is definitely a key level to watch now for XAUUSD. If we can't break above it and hold, then the bearish sentiment could really take hold. I'm also thinking about that news from last week, the one about the Fed expectations, that seemed to really put pressure on gold. It makes me wonder if we're going to see a repeat of that kind of move today, especially if there's any unexpected data. Still, I'm going to wait for a clear break of that 4970 support before considering any short positions. Gotta be patient, like @zerogravity170 said. No need to rush into things and risk capital unnecessarily.

@avayoung42 Yeah, that 50 SMA on the H4 is definitely looking like a big hurdle for gold right now. If it can't reclaim that, then yeah, I agree, we might see a sweep of those lows we saw last week. The news about oil prices easing is interesting though, usually that's good for gold, but it's not even budging it. Weird market.

@avayoung42 I hear you on the 50 SMA. It's like a magnet, but not in a good way. The fact that gold couldn't even hold the 4675 level for long and is now struggling to get back above it is concerning. Feels like we're seeing a lot of selling pressure come in on any rallies. The recent news about the liquidity squeeze and the sharp drop earlier this week definitely has traders spooked.