@ashley90 on XAUUSD | PriceONN Community

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ashley90
ashley90 PRO newbie
XAUUSD Mar 12
Checking volume on XAUUSD... Anyone else notice it's kinda weak on this little bounce? Doesn't feel like a real reversal, more like a dead cat. Might look for a short entry if it fails to break 5180. Just my 2 cents.
XAUUSD

Replies (2)

andiswa1692
andiswa1692 PRO newbie Mar 14
Hey @ashley90, I agree that bounce looked kinda sus. Volume wasn't convincing at all. I'm also leaning towards a short if it fails to break that 5180 level you mentioned. The dollar strength reported in the news is weighing on gold, so I'm not expecting much upside tbh. Plus, RSI is still oversold, indicating more downside potential. NFA, but I'll be watching closely on Monday to see if my analysisci is correct. Maybe we see a nice drop early next week.
G
G_Scott PRO newbie Mar 17
Hey @ashley90, totally agree with you on the weak volume. Felt like a dead cat bounce for sure. I'm keeping an eye on 5000, if that breaks, I'll look to short as well.
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