@lthompson94 on XAUUSD | PriceONN Community
L
This current XAUUSD setup reminds me a bit of that choppy period back in early March. Remember when price was bouncing between 5030 and 5080 for days? We had similar RSI readings then too, hovering around the 40-50 mark. Then suddenly, a big move broke out. Gotta be patient and wait for that clear signal, or we'll just get chopped up again.
Replies
Hey @lthompson94, I hear you on the choppy March vibes. This current drop feels like manipulation though, not just normal choppiness. They hammered gold down just before the US session really got going, probably hunting stops. And look at that RSI, sitting at 37, yet they push it lower? Classic. I'm not sure patience is the answer when the market is clearly rigged against us retail traders. This news about liquidity squeeze and forced selling sounds like the excuse they always use when they're just shaking out positions. I'll be watching to see if they try to push it towards that 4518 support, but I wouldn't be surprised if they blow right through it.