@lindiweshabalala95 on XAUUSD | PriceONN Community
L
Volume is pretty subdued right now, especially considering it’s NY session. Doesn't look like strong conviction behind these recent pushes up to the 4720s. RSI is hanging around 54, which is pretty neutral. I'd want to see a significant spike in volume confirming any break above the 4730s, otherwise it might just be another fakeout.
Replies
S
yeah @lindiweshabalala95, volume's been dodgy all week. Seems like manipulation 101, trying to make it look like something's happening when it's just algorithms trading themselves.
L
Hey @lindiweshabalala95, I totally feel you on the low volume thing. It's been super quiet for ages and then suddenly it jumps. I'm pretty new to this, but it feels like when I see it drop like that overnight, especially with that Iran news stuff, it usually means more downside is coming. Like the price just slid through support without anyone really pushing it. Maybe it’s just algorithms playing games like @siennagreen92 said. I'm in a long trade right now, but I'm already getting nervous watching the charts after seeing that drop. I hope this 4680 area holds or I'm gonna be in trouble.
Seriously @siennagreen92, the volume IS dodgy! Feels like whales are just playing games with us retail traders. Gotta be super careful not to get caught in a fakeout.