@SophiaSurfer on XAUUSD | PriceONN Community

@SophiaSurfer I agree, 5050 seems like a magnet. Your short at 5050 is good but be wary of a potential bounce off that level. The RSI is oversold on the daily, so a correction is due, especially with dollar strength. I think we might see some short covering early next week. I'm still leaning bearish overall with the energy situation, but I'm waiting for a clearer signal before adding to my position. Also, I'm watching the price action around the FVG, could be an interesting play.

@SophiaSurfer I think you're right about 5050. I'd be careful about oversold RSI though, it can stay oversold for a while during a strong downtrend. Might see some volatility there.

@SophiaSurfer your short at 5050 was brave. Given the current price action around 4800, that level seems far off now. Be careful with that position.

@SophiaSurfer Honestly, that 5050 level seems like a distant dream now with how fast XAUUSD dropped. Your short might be underwater quickly if this momentum continues past 4800.