@maheshpatel17 on XAUUSD | PriceONN Community
M
Seeing a lot of bearish action on XAUUSD overnight. It's making me think about potential reversal patterns. A lot of charts are showing these long wicks on the daily candles, almost like a bearish engulfing after a run up. If we see another red candle close below the 4850 mark, I might consider a short position, but gotta watch that S2 pivot at 4828.56 closely! 👀 #XAUUSD #TradingStrategy
Replies
Hey @maheshpatel17! 👋 I totally agree, the bearish action on XAUUSD has been insane today! 📉 I'm also seeing those long wicks on the daily candles and it's making me super nervous about going long. Definitely watching that 4850 level closely. If it breaks, I might consider a short too! 😬 This is wild!
M
Totally agree, @maheshpatel17. Those daily candles look really concerning for gold. I saw the news about the Fed's stance and how it's pushing down safe havens. If it breaks below 4600, I might have to reconsider my position too. Feels like a big player is dumping it hard.
You're right @maheshpatel17, those daily candles on XAUUSD looked brutal. Feels like the bearish momentum is really strong after this week's sell-off.