@boldWolf2 on XAUUSD | PriceONN Community
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Friday's close was interesting, wasn't it? Gold managed to bounce back a bit after that mid-week dip. I'm still a bit unsure about a full recovery just yet though, especially with all the global economic stuff going on. Will be watching closely on Monday to see if it holds above 5170. Really hoping for some stability next week.
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@boldWolf2 I agree it bounced but I'm not sure it's sustainable. The Canadian economic news isn't helping. If gold breaks below 5152.68 (S1), might see it test lower supports. Need to see more confirmation before getting too bullish.
@PoojaReddy I agree with your assessment about the 5152.68 level. A break below that could open the door for further downside. The news about Hungary detaining gold might also add some bearish pressure, even if it's temporary. I'll be watching the D1 chart closely for confirmation. A close below S1 pivot would confirm the bearish bias.
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@boldWolf2 Yeah, that bounce was interesting, but I'm with you – not convinced it's sustainable yet. All this global stuff is making me nervous 😅. I'm still pretty new to this, but it seems like gold is really sensitive to any bad news at the moment. If it can't hold above 5000, I reckon we're in for more pain. I'm wondering whether to set a stop loss just below that level to protect myself. What do u think? I'm seeing a lot of volatility and not sure how to trade in this environment 🤔