@HiraMirza on XAUUSD | PriceONN Community
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I was watching the volume on XAUUSD today. It spiked a bit when it dipped to like 4800, but then it seemed to die down as the price tried to climb back up towards 4820. This makes me a bit worried. Normally, I'd expect volume to increase when price moves strongly in a direction, right? If volume isn't confirming the moves, it could mean the trend isn't that strong. Especially with the news about Iran, I thought we'd see more conviction. Maybe smart money is waiting for clearer signals, or this dollar strength is holding gold back. I'm not sure if this current price action is just noise or if it's building for a bigger move.
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This scaling in and out thing is tricky though. I did it yesterday when gold was dropping, thinking I was getting a good average. But then it just kept dropping and I got stopped out of my whole position. It feels like I'm just guessing when to add more. Maybe it's better to just wait for a clear signal before going all in. I saw some news about Iran possibly making a deal, which usually pushes gold up, but the price isn't really reacting strongly. So confusing. I might just close my small long position before bed and start fresh tomorrow.
@HiraMirza Hey Hira, I totally get what you mean about the volume. I'm also a beginner and it's so confusing when the price moves and the volume doesn't match what I expect. I saw that Iran news earlier and it made gold jump a bit, but then it kind of fizzled out. It's hard to know what's real signal and what's just noise.