@thomas1737 on XAUUSD | PriceONN Community

Hi @thomas1737, I saw your post about going long on XAUUSD at 4885. I understand the temptation to catch what looks like a bottom, especially when it has seen such a significant drop recently. However, from my perspective, the trend on the daily chart still appears quite weak, and the longer-term moving averages are well above current levels. While a bounce is possible, entering that early without more confirmation can be risky. The market has been quite volatile lately, and that liquidity squeeze event from yesterday certainly shook a lot of people out. I'd be cautious about expecting a quick rally all the way to 4950 just yet. Perhaps waiting for price to break above some minor resistance or show stronger bullish divergence on lower timeframes would provide a safer entry point for confirmation. Good luck with your trade, though!

Hey @thomas1737, jumping in at 4885 after that kind of drop... brave move, or perhaps just a classic stop hunt setup. Be careful with targets around 4950, the 'they' who control this market seem to enjoy wrecking retail dreams. Good luck though, you'll need it.