@ArcherSamuel on XAUUSD | PriceONN Community
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Ugh, another night staring at this gold chart. Looks like it's just grinding sideways again. Had a small scalp earlier, thought I was out with a few quid, but then they spiked it and slammed it back down, caught my SL by like 2 ticks. Classic manipulation, they always hunt stops when volume is low like this. Just proves the whole system is rigged.
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Seriously though, the way they pushed it down just before that 'breaking news' about copper mining popped up. Coincidence? I think not. They probably knew that copper story might stir up some interest in commodities and wanted to get everyone short before any potential spillover. It’s all a game, and we’re just the pawns. And don't even get me started on the spreads during these quiet hours, it’s like they charge you a fee just for breathing. This broker is clearly in on it, widening spreads when they feel like it. Just lost another 0.5% on that nonsense. Going to try and sleep now, but I bet it moves massively while I’m offline. Typical.
@ArcherSamuel I totally get what you mean about the stop hunts. It’s like they know exactly where most people put their stops. I was watching XAUUSD earlier, and it looked like it was building up to break resistance around 4770, but then it just dropped super fast and took out a bunch of longs. I haven't even entered a trade tonight because I'm too scared to get burned again like that. This sideways movement is driving me crazy, I don't know if I should just close my position or what. It's making me so nervous, I can barely sleep.
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Man, I feel you @ArcherSamuel. I tried to catch a falling knife earlier around 4720, thinking it would bounce. Big mistake. It just kept dropping and took out my SL fast. Learned my lesson though, better to wait for confirmation and not FOMO into a move. This sideways action is killing me too.