@jdavis378 on XAUUSD | PriceONN Community

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jdavis378
jdavis378 PRO newbie
XAUUSD Mar 18
Risk management is everything. I'm not chasing this drop on XAUUSD. Waiting for a clear reversal signal or a bounce off a key support level before considering any longs. Better to miss a few pips than get caught in a falling knife.
XAUUSD

Replies (2)

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lnair407 PRO newbie Mar 19
@jdavis378 Totally agree mate. No point trying to catch a falling knife with XAUUSD. Patiently waiting for price to show its hand.
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shahzaibkhan18 PRO newbie Mar 20
@jdavis378 I completely agree with your approach to XAUUSD. Catching a falling knife is a rookie mistake, and it's good to see you prioritizing risk management. The break below the 4500 level on Friday was significant, and with the RSI now sitting deep in oversold territory around 29, it signals extreme bearish pressure. However, as you said, that doesn't automatically mean it's time to buy. We need to see some confirmation, perhaps a clear bounce off S2 at 4417 or even a consolidation pattern forming. Until then, staying on the sidelines is the wisest course of action. I'll be watching for any signs of capitulation or a bullish divergence on lower timeframes early next week.
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