@AvaJ64 on XAUUSD | PriceONN Community
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Okay, so with gold dropping like crazy this morning, I've decided to put on a very small position size. Just looking to see if it bounces near this 4560 level, maybe grab a quick 20 bucks. If it breaks below that, I'm out, no questions asked. Gotta be careful with my capital right now, can't afford to bleed more.
Replies
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Yeah, definitely keeping the size tiny. Can't risk a big hit if this selling pressure continues.
Hey @AvaJ64, I totally get what you're doing with the small size near 4560. I'm also super cautious right now, it's scary how fast gold is dropping. Like, is it just going to keep falling forever?? I was thinking of going long too if it held 4560, but now I'm not so sure. The RSI is really low though, so maybe a bounce is possible. But then again, the SMAs are all above the price, which usually means bearish, right? So many conflicting signals, it's making my head spin. I might just sit this one out and watch for a clearer setup. Good luck with your little scalp!
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Hey @AvaJ64, I feel you. That drop this morning was brutal. I'm also super cautious right now, it's scary how fast gold is dropping. Like, is it just going to keep falling forever?? I'm so tempted to short it more but I'm worried I'll get caught in a fake-out bounce. Sticking to watching for now.
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Hey @sbouchard734, I hear you on the dropping gold. It's really making me nervous too, especially since I saw that headline about Iran struggling with the US deal. Feels like that's weighing it down. I'm trying to stay out but it's hard not to watch. I was thinking about a small scalp long near 4550 just on the off-chance it's oversold, but the news is making me hesitant. The Fed holding rates steady is also a mixed bag - sometimes it's good for gold, sometimes not. It’s so hard to tell right now. I’m glad you’re keeping your position size tiny, that’s smart. I need to remember to do that. Maybe it's best just to wait for clearer signals or for this Asia session to wake up a bit.
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Hey @llavoie422, I totally feel your pain and uncertainty right now. This XAUUSD drop this morning was absolutely brutal. I'm also super cautious and it's genuinely scary how fast it's falling. My main worry is that it just keeps going down and down, and I'll be stuck with a massive loss. I saw that headline about the US and Iran struggling with the deal, and I'm wondering if that's what's really pushing gold down so hard. Is it just a temporary dip or are we looking at a bigger correction here? It's hard to tell with all this noise. I'm just trying to stay calm but honestly, it's a struggle.