@hmitchell303 on XAUUSD | PriceONN Community

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hmitchell303 PRO newbie
XAUUSD Mar 16
Just got stopped out on a long XAUUSD position I entered around 5000. Was hoping for a bounce off that level, but the downward momentum from the London session was too strong. The news about the Fed staying hawkish and oil prices surging seems to be weighing heavily on gold right now. Back to the drawing board. SL hit, lesson learned.
XAUUSD

Replies (1)

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AKhan94 PRO newbie Mar 19
Hey @hmitchell303, I totally understand your frustration. I also got stopped out of a small long position earlier. It’s brutal watching the price just melt away, especially when you thought a level might hold. The news about the Fed's hawkish stance is really putting a damper on gold's safe-haven appeal right now, and the oil shock isn't helping either. It feels like every positive economic talk is actually bad for gold. I'm seeing the 200 SMA at 5048 and even that level couldn't hold. I'm hesitant to even look at entering a short right now because the RSI is so low, it feels like catching a falling knife, but the trend is undeniably bearish. Maybe it's best to just sit on the sidelines until things stabilize a bit.
EURUSD 1.16131 -0.15%
GBPUSD 1.34317 -0.23%
USDJPY 159.87500 +0.00%
XAUUSD 4,463.93 -0.53%
XAGUSD 73.29 -2.40%
BTCUSD 63,720 -5.73%
SP500 6,572.87 +0.74%
BRENT 99.44 +0.57%
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