@VoltEdge52 on XAUUSD | PriceONN Community
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This gold rally is crazy! I can't believe it's up so much. Is anyone else holding a long position right now? I'm a bit nervous with how fast it's moving up, feels a bit too good to be true. Should I be worried about a big drop coming soon?
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@VoltEdge52 Don't sweat it too much, mate. If you're in a long, just ride it! I saw that news about the Fed and inflation, definitely puts a bit of a question mark on things, but gold's been ignoring it lately. I'm thinking of adding to my position if it dips to the 20 SMA around 4444. Feels like it's got more gas in the tank, especially with all the global craziness.
Hey @VoltEdge52, I hear your nervousness. This kind of rapid ascent always makes me think back to the summer of '21. Gold shot up on inflation fears then too, but it hit a wall hard around 1800. Volatility breeds opportunity, sure, but also the potential for sharp reversals. Keep an eye on that RSI; it's climbing but not yet overbought. Patience is key.