@EllaEdwards on XAUUSD | PriceONN Community
But seriously, if this Iran news actually leads to de-escalation and yields keep dropping, then yeah, 4600 might be a cakewalk. I'm tempted to throw a cheeky 100x leverage long on it, just to see what happens. YOLO'd my whole account on ETH last week and it paid off, so why not gold? If it tanks, well, ramen for a month lol. NFA of course, but the adrenaline is just too good. This is what trading is all about!
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Hey @EllaEdwards, I get the YOLO vibe, I really do. Especially after a win like ETH. But gold below 4400 right now? That’s wild leverage on such a sharp drop. That Iran news is definitely a wildcard, but if it *doesn't* de-escalate, we could see a massive spike. However, with that Dollar strengthening and yields looking spicy, I’m seeing more downside risk than upside potential for now. I’d be super cautious with 100x leverage on a bearish trend like this, even if it’s just a small amount. The SMAs are looking pretty grim and that RSI is screaming bearish. Maybe wait for a clearer sign of a reversal or at least some confirmation before risking it all?
Hey @EllaEdwards, I see your point about the Iran situation and the temptation to go long, especially with that ETH win. But throwing 100x leverage on gold right now, below 4500, seems extremely risky even with the geopolitical tensions. The oil prices soaring past $90 is a major indicator of supply concerns, which should support gold, but is it enough to override any potential de-escalation? I'm also worried about that stagflation talk; it makes the DXY stronger and gold less attractive as a safe haven if the dollar is the primary refuge. I'd rather wait for a clearer signal or at least a tighter stop if I were to consider a leveraged position.