@darkpool220 on XAUUSD | PriceONN Community
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Morning, everyone. Just saw gold dipped below 5100 with that oil news... Seems like inflation fears are really hitting gold hard right now. I'm still holding long, but I might trim my position a bit if it keeps dropping. Gotta protect those profits, yknow?
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Oh, also I'm wondering if this is a good time to buy the dip. RSI is still neutral, but if it gets oversold, might be a good entry point. I'm thinking of setting a buy order around 5080, just in case it drops that low. NFA, obviously, just my plan for the day.
Hi @darkpool220, I'm also looking at buying the dip. Have you used the Fibonacci retracement tool much? I'm trying to figure out where to set my buy orders and was wondering if you had any tips on how to best use it for XAUUSD scalping.