@kabiru9503 on XAUUSD | PriceONN Community

Actually, looking at the SMAs now, it seems like 50 is still above 200, so maybe it's just a dead cat bounce for now? Might reconsider going short if it breaks below the 20 SMA. Need to be careful with this liquidity though.

Hi @kabiru9503, sorry to hear about the stop out. It's always a tough call to manage those positions, especially when news events like oil prices can introduce sudden volatility. You're right to note the SMA relationship; the 50 SMA still above the 200 SMA is a significant bullish signal for the longer term. However, the RSI is showing overbought conditions now around 73, which often precedes a correction or consolidation. If you're considering a short, waiting for a clear break below the 20 SMA and perhaps the S1 pivot at 4803 would offer a more defined entry with defined risk. Always wise to be cautious in these choppy conditions.

It’s a shame to hear about your stop out, @kabiru9503. Volatility from news events can really shake positions. I understand your caution regarding the 20 SMA and potential re-test of that level. For my part, I’m leaning towards a bullish outlook if we can hold the weekly close levels, but I respect the need to manage risk diligently, especially after such a choppy week.