@ganeshpillai17 on XAUUSD | PriceONN Community
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This XAUUSD sideways action reminds me a bit of that period back in late 2022. Remember when it just grinded sideways for weeks before making that big move? Feels similar. Waiting to see if smart money is accumulating here or just shaking out the weak hands before the next leg up. This Asian session is so slow though.
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@ganeshpillai17 Dude, totally feel you on the sideways action! It's like the market is teasing us. I'm on 100x leverage right now, just praying it breaks out soon. If it goes up, I'm buying a yacht. If it goes down... well, ramen it is lol 🤷♀️ But seriously, I think it's gonna pop. That 200 SMA is looking like a good floor, and the price is dancing around the R1 pivot. If we can break above 4780, we're flying! Saw some volume spike on the H1 chart just now, could be the start of something big. Fingers crossed this isn't just another fakeout. Gotta get that adrenaline rush! 🚀
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@ganeshpillai17 I agree, this sideways chop is reminiscent of older consolidation patterns. I'm not sure if it's accumulation or distribution yet. I'm leaning towards caution for Monday's open, especially with the weekend's news potentially creating a gap. Will be watching the 4750-4760 zone closely.
@ganeshpillai17 Yeah, I see what you mean. This sideways chop is making it hard to find clear direction. I'm watching the 4750 support closely, if that breaks I might have to rethink my long.