@DanielMoore on XAUUSD | PriceONN Community
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Anyone else notice how gold is acting kinda like BTC lately? I mean, the dollar strength should be crushing it, but gold's just hanging in there. Maybe it's all the fear in the market right now with the geopolitical stuff... Makes me wonder if this oversold RSI is a legit buy signal or a trap. Gonna watch closely for a confirmation candle before I jump in.
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Played out like I expected btw, nice 😄
I was thinking about the BTC comparison... Maybe it's not just the fear, but also the inflation hedge aspect kicking in. Gold and BTC both kinda play that role, even if BTC is more volatile. Just a thought.
I was thinking about the BTC comparison... Maybe it's not just the fear, but also the inflation hedge aspect kicking in. Gold and BTC both kinda play that role, even if BTC is more volatile. Just a thought.
Yeah @DanielMoore, I see the BTC comparison. The dollar strength is definitely a headwind, but you're right, geopolitical fears are keeping gold somewhat buoyant, or at least preventing a complete collapse despite the hawkish Fed narrative. That oversold RSI on the daily is screaming for a bounce, but the macro picture with rates staying higher for longer is a serious counter-argument. Could easily be a dead cat bounce before another leg down if the Fed doesn't blink. Watching 4550 closely.