@ryan2195 on XAUUSD | PriceONN Community
Well, that little pop I was hoping for didn't quite materialize. I had a small long entry around 4660, thinking we might get a bounce off the S1 pivot. Got stopped out for a minor loss. Not much conviction in this price action right now, to be honest. Definitely not the end-of-day surge I wanted to see.
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Yeah, so that stop out was quick. Looking back at the H4 chart, the 50 SMA is still above the price and acting as resistance, and that huge drop on the Iran news yesterday really put a damper on any upside. Honestly, I'm starting to think we might retest those lower Bollinger bands if this USD strength continues. The trade was probably premature given the broader macro sentiment. Should have waited for clearer signals from the DXY.