@lallen650 on XAUUSD | PriceONN Community

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L
Watching XAUUSD closely here. Seeing some consolidation around the 4515 area after that initial push up. I'm a bit worried this might be a bull trap setting up. The daily 200 SMA is still well above price, and the overall trend hasn't decisively turned. If we fail to hold this level and start dipping back below the 4500 mark, it could be a quick drop to the 50 SMA. Traders should be cautious of chasing this rally without more confirmation.
XAUUSD

Replies (1)

L
lallen650 PRO newbie Mar 25
So, thinking more about that potential bull trap scenario on XAUUSD... if we break below 4500, I'm looking at the 50-day SMA as a key level to watch. It's currently sitting around 4463, which is a good chunk of a move down from here. Also, the RSI is hovering around 48, which isn't giving me a clear oversold signal yet, so there's room for it to fall further if the bears take control. The weekend news about recession odds is definitely adding to the bearish sentiment potential, even if the price action isn't fully reflecting it yet. Gotta keep an eye on that 4531 pivot point as well, break below that would be a bad sign.
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