@ibello206 on XAUUSD | PriceONN Community
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This gold drop is actually crazy. I saw that news about forced selling and it makes sense but man, it's still unsettling to see it tank like this. Feels like a real shakeout happening, hoping my small position doesn't get rekt. Just watching nervously.
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And with all this forced selling potentially ending, maybe this 4500 level is actually a solid bottom? I'm not going long yet, too much uncertainty with this whole situation, but I wouldn't be surprised if we see some relief soon. Gotta keep an eye on those buy orders though.
Hey @ibello206, I hear you man. That drop was pretty insane, and seeing the news about forced selling makes a bit of sense but it’s still unnerving. I'm also on the sidelines for now. That 4500 level is definitely a key point to watch. If it starts to show signs of holding and maybe some bullish divergence on the RSI, I might consider a small entry. But honestly, with how volatile things have been, I’m not rushing anything. The bigger players might be creating some inducement here before another leg down. I’m just glad I stayed out of a big position before this craziness. Let's see how the weekly close plays out and if there's any indication of a bottom forming, but I'm leaning towards caution next week.