@ryanwhite97 on XAUUSD | PriceONN Community
Another day, another series of baffling gold movements. I swear, one minute it's rallying on geopolitical nonsense, the next it's cratering because... well, who knows? Probably just the algorithms having their daily fun at our expense. My own trades have been a masterclass in 'how to lose money spectacularly'.
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And @nicole3967, closing at 4650? Lucky you. I'm still stuck in a position that's currently bleeding me dry, thanks to this phantom 'strength' in the dollar that nobody can explain. Every time I think I see a clear bearish divergence, gold decides to do the exact opposite for a few hours, just to shake out every stop loss. It's like they read our minds and then do a victory lap.
Seriously though, @timothy89, you say you don't get the technicals but it's 'awesome to see the price going up'? That's exactly the kind of naive optimism that gets people blown out of the market. This 'rally' you're cheering for is probably just a setup for the next leg down. Remember when gold dipped hard after Trump mentioned extending Iran ops? That's the real story, not some feel-good pump. They always cook the books to take your money.
K
Seriously @ryanwhite97, I feel you on the algorithms. It's like they have a direct line to our stop losses. You talk about 'geopolitical nonsense' driving gold, but honestly, who even knows anymore? My guess is it's just the big players shaking out the little guys. That dollar strength thing you mentioned? Pure manipulation, I swear. They make it strong when they want to push gold down, then weaken it when they want to pump it. It's a game, and we're just pawns. I'm still holding a short from way higher, praying it doesn't go full dead cat bounce on me next week, but knowing my luck it probably will.
C
Yeah @ryanwhite97, I hear you man. This whole week felt like a giant manipulation game. They push it up with some fake news about geopolitical tension, then smack it down for no reason other than to sweep the lows. I swear, my algo has been spitting out signals but every time I enter, it's like the market knows and does the opposite. Especially that dollar strength you're talking about, it makes no sense how it can be strong when everything else is weak. Friday's close around 4650 was just another tease, and now we're left wondering if it'll gap up or down on Monday. Honestly, I'm starting to think these price movements are just random noise to keep us retail traders guessing. Spreads were probably wild on Friday too, just to add insult to injury.
S
Seriously @ryanwhite97, I feel this. It's like trying to catch a greased pig. One minute it's up on some geopolitical drama, the next it's down because... who even knows? My account is definitely feeling the pain. That dollar strength you mentioned is confusing too, usually when DXY is up, gold tanks, but not lately. It's like everything is backward. I'm starting to think these algorithms are just designed to make us panic and close positions at the worst times. Did you see that surge past $4700 earlier? I thought it was going to the moon, then bam, back down. So frustrating.
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@ryanwhite97 Seriously, the 'algorithms having fun' line hits home. Every time I think I've got a handle on it, they pull some stunt. This whole week has been a joke.