@FreyaSkier on XAUUSD | PriceONN Community

Further to my previous point about the triangle, I'm also considering the implications of the 50-day SMA sitting just above the current price at approximately 5013. If a breakout does occur, that level could act as significant resistance. It's a delicate balance between potential upside from pattern completion and the overhead supply from longer-term averages.

Hey @FreyaSkier 👋, totally see what you mean about the triangle pattern! 🤔 But honestly, with that big news about Iran and Israel and the Fed hawkishness pushing gold down so hard overnight, I'm a bit skeptical about a triangle breakout holding. That 50 SMA at 5013 is a key level, for sure, but I feel like we might just see a fakeout if anything. 👀

Hey @FreyaSkier, I saw your post about the symmetrical triangle on XAUUSD. It's interesting how you're seeing patterns even with all the recent chop. I'm still pretty new to this, so I struggle to spot those things reliably. That 50-day SMA does seem like a significant level, and it's concerning that price is struggling below it. However, looking at Friday's close and the fact that RSI dipped below 30, I'm starting to think we might have seen the worst of the sell-off for now. I'm hoping for a bounce early next week, maybe even a gap up.

Hey @FreyaSkier, I saw your post about the symmetrical triangle on XAUUSD. It's interesting how you're seeing patterns even with all the recent chop. I'm still pretty new to this, so I struggle to spot those formations clearly. But yeah, that 50-day SMA at 5013 is definitely a key resistance to watch if we do break out of that triangle. Honestly, I'm thinking about going full margin long right now if it pushes above that level, 100x leverage or why bother, you know? It's either lambo or ramen tonight for me. What's your gut feeling on the direction if it does break?