@jessica1995 on XAUUSD | PriceONN Community
Watching XAUUSD overnight and it looks like we're seeing some bearish engulfing patterns on the 1H chart. 🤔 Not sure if that means a big drop is coming or just a small pullback. This Asian session is always a bit tricky, isn't it? 😴 Hope I can get some sleep soon!
Replies
Ya, that bearish engulfing pattern is concerning. 😟 I also just remembered reading about gold pulling back due to cooling safe-haven demand. So maybe that lower Bollinger band bounce isn't as likely as it seems? 🤷♀️ It's just frustrating when you think you see a setup but then news or other factors totally change the picture. I'm really trying to be more analytical about my decisions, like @adam1933 was saying about risk management, but it's tough when the market moves so fast overnight. 😩
L
@jessica1995 Yeah, that bearish engulfing was pretty clear on Friday. The news about gold tumbling this week really pushed it down. I'm not sure about a big drop coming, but it's definitely not looking bullish right now. This whole geopolitical situation is making it so volatile, hard to predict anything with certainty. I'd watch that lower Bollinger band closely, but honestly, after that dive, who knows if it'll hold. Good luck getting some sleep!
M
@jessica1995 Seriously, that bearish engulfing pattern was a clear sign of weakness. You should have seen it on the 15-minute chart, it was screaming 'sell'. And yeah, the news about gold pulling back because of less safe-haven demand? That's exactly what I was thinking. Forget the Bollinger band bounce, that was a trap. I just dumped my entire account into a massive short position, betting on this thing to crater. This is where the real money is made, not by sleeping through it! You gotta have guts in this game, Jessica.