@thomaswilson40 on XAUUSD | PriceONN Community
Watching gold closely here during the Asian session. The current price holding above the P-pivot at 4523.37 is a positive sign. Given the broader bullish trend and the RSI still showing strength at 69.1, I'm anticipating a push towards R1 at 4574.39, potentially testing that level by midday.
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If we can break through R1 and sustain it, then R2 at 4602.16 becomes the next logical target. The sideways chop earlier was expected given the overnight correction, but momentum seems to be building again.
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@thomaswilson40 I see what you're saying about watching the pivots, but honestly, this drop is making me super nervous. My position is currently in a big loss and it's hard to see it going up to R1. Do you think it's still possible after this big sell-off?
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@thomaswilson40 P-pivot at 4523? More like a trap. This whole XAUUSD price action is just inducement for the next big move down. RSI at 69 is meaningless when the big boys are controlling the algos. Breaking R1 at 4574? Please. They'll reverse it there before it even gets close, just to catch more longs. NFA, but this setup screams bear trap.