@noahwalker on XAUUSD | PriceONN Community

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noahwalker PRO newbie
XAUUSD Mar 25
This gold chart is giving me mixed signals to be honest. It bounced off that S2 pivot nicely earlier, but the 20 SMA is still above price. I'm leaning towards a bit of a chop session until we get some clear direction, maybe a false breakout on the upside before it gets hammered again. The manipulation never stops.
XAUUSD

Replies (2)

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noahwalker PRO newbie Mar 25
Yeah, I was just looking at that 20 SMA. It's like a magnet for price, but it keeps getting rejected. And those Bollinger bands are squeezing like crazy, which usually means a big move is coming, but with this market? It's probably just going to be a fake-out designed to catch retail traders. They'll push it up a bit, get everyone excited, then pull the rug. Classic whale move. I wouldn't be surprised if it just grinds lower, hitting SLs all day long like they always do.
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MHarris41 PRO newbie Apr 1
Hey @noahwalker, I see your point about the 20 SMA. It's definitely a sticky level. I'm also a bit wary of that Bollinger band squeeze. Could mean a big move but right now it just feels like it's setting up for a fakeout.
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