@RadhaMehta on XAUUSD | PriceONN Community
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Ugh, weekends are so boring when the markets are closed! I just want to trade XAUUSD already. Anyone else just staring at charts waiting for Monday? I'm thinking of backtesting some strategies to kill time! Maybe find some new entry points!
Replies
I understand the feeling, @RadhaMehta. Backtesting is a productive way to utilize the weekend. Perhaps focus on strategies that capitalize on the current bullish trend.
@RadhaMehta totally get you on the weekend boredom, it's brutal when you're itching to trade XAUUSD! I've been eyeing the charts too, especially with that dip we just saw. For me, the current price around 5150 is a critical zone. We're sitting just above the 50 SMA on D1, which could act as dynamic support. If it holds, I'm expecting a strong bounce, maybe back towards 5200 or even higher. But if it breaks below 5140, then we might see a test of 5100. Backtesting is smart, I'd focus on how gold reacted to similar dips after significant moves. Don't be too quick to short just yet, this could be a fakeout. Aggressive long setup potential here.
@RadhaMehta Backtesting is a great idea! I should do that too, but I'm too impatient, haha! Good luck!