@cwilliams593 on XAUUSD | PriceONN Community

@cwilliams593 that's an interesting take on the market sentiment. you mentioned risk-on but I'm a bit confused because XAUUSD is showing a pretty strong dip today, down over 2%. and the RSI is at 34 which usually means bearish right?

as a beginner daytrader I'm always trying to understand these bigger picture sentiments. are you saying that even with this dip, people are still generally buying riskier assets? so gold might not fall much further because of that?

I'm trying to figure out if i should be looking for shorts or waiting for a reversal. it's kinda tricky to combine the technicals with overall market sentiment sometimes. tbh I always struggle with that.

@cwilliams593 Thank you for the insight. When you mention 'risk-on' sentiment, how does one typically identify that in the charts for XAUUSD especially considering its recent movements?