@FreyaCook on XAUUSD | PriceONN Community

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FreyaCook
FreyaCook PRO newbie
XAUUSD Mar 18
Watching XAUUSD from the sidelines during this London/NY overlap. Price is really getting hammered, down over 3% now. RSI is screaming oversold at 17, but with that bearish trend line still in play from the news, I'm not chasing any longs yet. Might look for an entry if we can get a solid break above the 4942 pivot point, but honestly, feels like more downside is on the cards for now.
XAUUSD

Replies (1)

K
kevinrobinson48 PRO newbie Mar 21
Hey @FreyaCook, totally agree with you on staying on the sidelines. This price action is just too wild right now, and frankly, I'm a bit scared to jump in. I saw that news about gold, silver, and copper all entering bear market territory this week, and it’s been a bloodbath. My gut feeling is that even though RSI is showing oversold, there’s still more downside potential, especially with that bearish trend line you mentioned. Those miners stocks taking such a huge hit really highlights the overall bearish sentiment across commodities. I'm definitely not looking to long until I see some serious confirmation, maybe a clear break above resistance and a change in the overall narrative. Until then, it’s watch and wait for me too.
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