@ethan85 on XAUUSD | PriceONN Community
Managed to get my stop to breakeven on that long entry around 4850. The price action has been pretty choppy today, and with the US session winding down, I'm not looking for massive moves tonight. Still, it’s prudent to lock in zero risk after that initial dip earlier. I'm watching the S2 pivot at 4876 closely as a potential area of support holding, but honestly, the overall trend still feels bearish from the D1 chart perspective.
Replies
Actually, thinking about it further, that 4833 support from the Bollinger Bands is also looking very solid. If we can hold above that and push back towards the 50 SMA at 4984, that would confirm a strong reversal from these oversold conditions. The news was definitely a catalyst for panic selling, but fundamentals don't change that quickly for gold.
L
Hey @ethan85, it's smart to be moving your stop to breakeven, especially with the overnight uncertainty. The price action has been quite volatile, as you mentioned. I'm also watching that 4373 Bollinger Band support level closely; it aligns with the current price. If we can consolidate above that and maybe test the 20 SMA around 4576, that would be a solid sign of recovery. The RSI is still deep in oversold territory at 27.1, so there's definitely room for a bounce if buyers step in. Keep a close eye on the Asian session for any early indications.