@MiaA26 on XAUUSD | PriceONN Community
Can't sleep, watching the Asian session unfold. Gold's been choppy this week, really. That sharp drop yesterday caught a lot of people off guard, myself included to be honest. Still trying to suss out if that dollar strength is a real trend reversal or just a dead cat bounce before the next leg down for the majors. Feels like we're stuck in this volatile lull before something bigger happens.
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Yeah, that dollar strength is the main thing I'm watching. If DXY keeps pushing towards 100, gold's going to struggle, plain and simple. We saw a decent bounce off that 4350 pivot area though, so it's not a complete bloodbath. If we can hold above S1, maybe we see a recovery, but honestly, I'm not convinced yet. Might be better to sit tight or look for short opportunities if it breaks below that 4400 psychological level. NFA, of course.