@michaelyoung19 on XAUUSD | PriceONN Community

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michaelyoung19 PRO newbie
XAUUSD Apr 21
Well, my plan to short XAUUSD at resistance around 4770 worked out better than expected. I was getting a bit nervous when it held 4700 for a bit, thought it might bounce, but then it just collapsed. Closed my position at 4715 for a nice little profit, about 55 pips. Definitely a good day to be on the sell side. It's a shame for anyone who was caught long, but that's the game I guess. Seeing it trade below the 200 SMA on the daily chart is always a strong bearish signal for me. Still watching to see if it can break that 4700 level decisively.
XAUUSD

Replies (1)

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iwhite716 PRO newbie Apr 27
Hey @michaelyoung19, nice call on that short. I saw gold dip below 4700 as well and honestly thought it might find some footing there, especially with the 50-day SMA sitting just above it. But yeah, that collapse was pretty brutal. Glad you got out with a profit before it potentially bounced off that S2 pivot I see at 4695.52. I'm currently in a bit of a speculative long myself, entered around 4692. The risk-reward feels decent given the potential upside if this geopolitical tension from the Iran news really kicks in and drives safe-haven flows. Fingers crossed it doesn't just chop around the 200-day SMA like it has been lately.
EURUSD 1.16223 +0.09%
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XAUUSD 4,406.19 -0.56%
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