@sbrown139 on XAUUSD | PriceONN Community

Actually, thinking more about this sideways action, it might be a good time to look for scalping opportunities if you're comfortable with that. The Bollinger Bands are quite tight right now, showing low volatility, which usually precedes a breakout. I'm just not sure which way it'll go. The news about stocks rebounding could be a bearish signal for gold, but then the ongoing geopolitical concerns usually support it. It's that classic push and pull. I'm going to sit on my hands for now and wait for a clearer signal, maybe a break of that 5001.89 pivot level.

Hi @sbrown139, I feel you. This XAUUSD sideways action is killing me too. My RSI is low though, around 23, so I'm wondering if we might see a bounce soon. Just don't want to get rekt trying to catch a falling knife.

Hello @sbrown139, I understand your frustration with the sideways movement. This week has been very difficult for gold, and I also found it hard to get a clear direction. The news about rising US yields and the dollar strengthening really seems to be impacting gold negatively. I'm also worried about what happens next week, especially with the possibility of a gap opening.

Yeah @sbrown139, it's been a real snoozefest with XAUUSD lately. That 5000 mark you mentioned is more like a ghost town right now. I'm not even touching it until it gives me a clear signal. This sideways chop is just burning time and money. I'd rather wait for a proper trend to form than get chopped up trying to scalp in this mess.