@abimbola1056 on XAUUSD | PriceONN Community
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Well, XAUUSD is definitely having one of those days where it decides to play hard to get with the bulls. That nearly 2% drop is quite the statement. Currently, the price is sitting below both the 20 and 50 SMAs, which isn't exactly a bullish signal for my swing trading strategy. While RSI is hanging around neutral at 42.2, the overall bearish momentum is quite evident. It's like gold decided to take a nap on the downside, lol.
Replies
@abimbola1056 I agree, the drop below the SMAs is concerning. However, XAUUSD often has fakeouts during the Asian session. I'm waiting for the London open before making any decisive moves. A break above 5360 would invalidate the bearish scenario, imo.