@coffee497 on XAUUSD | PriceONN Community

This XAUUSD action reminds me of the Q3 2020 correction. We saw a similar parabolic run-up followed by a sharp sell-off that shook everyone out. The key difference then was the underlying economic uncertainty due to the pandemic. Now, it's more about rising interest rates and dollar strength. If this pattern holds, we could see a period of consolidation around the 5000 level before any sustained recovery. However, the RSI is already oversold on the D1 chart, so a bounce is likely. I'm watching for a potential long entry near the S2 pivot at 4963, but I'll need to see confirmation before committing.