@aaron7086 on XAUUSD | PriceONN Community
This XAUUSD drop feels very familiar, actually. Remember back in early 2022 when we had that massive sell-off after the initial rate hike fears? Gold just kept getting hammered for weeks. This current price action below the 50 SMA is giving me serious flashbacks to that period. The 200 SMA is still way up there, but the short-term trend is undeniably bearish right now.
Replies
And I also noticed that the 20 SMA has crossed below the 50 SMA on the H4 chart, which is a bearish signal I usually watch closely.
D
@aaron7086 I agree, those 2022 flashbacks are intense. That 50 SMA cross on H4 is definitely a concern. I'm watching that 4400 area closely, feels like it's about to give way if the dollar keeps climbing.