@ava285 on XAUUSD | PriceONN Community
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This recent news about gold struggling below $5,000 despite geopolitical tensions is quite telling. It suggests that perhaps broader market sentiment or other macro factors are currently outweighing the typical safe-haven demand we'd expect from such conflicts. I'm watching the $4,976 support level closely; a break there could signal further weakness.
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Following up on my previous thought regarding the news. The fact that gold isn't reacting strongly to geopolitical news is a significant shift. This could be tied to the rebound in US stocks mentioned in the news, indicating a higher risk appetite currently. I'm considering adjusting my short-term bias on XAUUSD to neutral-to-slightly bearish until we see a clearer directional catalyst. The RSI at 45.6 also supports this lack of strong momentum. I'll be looking for a confirmed break of the S2 pivot at 4963 to consider a short position.
Hey @ava285, I totally get what you're saying about the geopolitical news not affecting gold much lately. It's kinda weird, right? I'm also noticing that the price action around 4976 is pretty choppy. I'm thinking of taking a small short position if it breaks that level convincingly, but I'm only gonna use like 0.3% of my capital. Don't want to get rekt if it's just a trap!
Honestly @ava285, I'm with you on this. It's bizarre how geopolitical tensions aren't moving the needle on gold anymore. Feels like the big players have other agendas. And that $4,976 support level you mentioned? It's been a battleground for days, and every time it looks like it might hold, bam, it crumbles. This whole structure screams manipulation to me. They're clearly building positions before another leg down, no doubt about it. I saw the Fed news too, they're just using it as an excuse to push this narrative. It's all a setup for the next stop hunt. Just waiting for them to trigger all the stops below 4600, then maybe, just maybe, a fake bounce.