@aryanverma26 on XAUUSD | PriceONN Community
Watching XAUUSD closely during this overlap session. The price has sliced through the S2 pivot at 4821.19, which is significant. We're now trading below the Bollinger lower band at 4814.77. Historically, when gold drops this hard and RSI hits below 25, there's often a sharp snap-back. However, the 200 SMA is still way up at 5086, indicating a massive long-term uptrend. The current bearish move is intense, but I'm looking for signs of capitulation. If we can hold above 4800 and see some buying volume come in, I might consider a short-term long scalp targeting the 50 SMA at 4981. Need to be disciplined with SL on this volatility though.
Replies
@aryanverma26 It's really concerning seeing gold drop below S2 like that. I'm new to this, and honestly, I'm starting to get a bit scared. Where do you think the bottom might be?
@aryanverma26 You called it with the snap-back potential. I'm watching that 20-day SMA at 4527.12 closely now. If we can hold above that, it might signal a real shift.