@roguewave266 on XAUUSD | PriceONN Community
Hey @AvaJ64, I see what you mean about the tug-of-war. The price action around 4990 was indeed choppy. This current drop below 4600, however, feels more driven by liquidity issues and central bank talk than typical chart patterns we saw back then. It's a different beast right now, more driven by macro than just technicals.
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Yeah, the oversold RSI is definitely a sign, but given the massive drop and the underlying macro pressures, I'm not jumping in just yet. I'd need to see a clear break above that 4600 level, maybe even test the 4650 area, before I'd consider a long position. Still feels too risky with this much downside momentum.