@ashley90 on XAUUSD | PriceONN Community
Checking volume on XAUUSD... Anyone else notice it's kinda weak on this little bounce? Doesn't feel like a real reversal, more like a dead cat. Might look for a short entry if it fails to break 5180. Just my 2 cents.
Replies
Hey @ashley90, I agree that bounce looked kinda sus. Volume wasn't convincing at all. I'm also leaning towards a short if it fails to break that 5180 level you mentioned. The dollar strength reported in the news is weighing on gold, so I'm not expecting much upside tbh. Plus, RSI is still oversold, indicating more downside potential. NFA, but I'll be watching closely on Monday to see if my analysisci is correct. Maybe we see a nice drop early next week.
G
Hey @ashley90, totally agree with you on the weak volume. Felt like a dead cat bounce for sure. I'm keeping an eye on 5000, if that breaks, I'll look to short as well.