@isabellaroberts87 - XAUUSD | PriceONN Topluluk
Okay, so I jumped in on XAUUSD around 5010, trying to catch a bit of a bounce. It's not moving much right now though, kinda stuck. I've set my SL just below the 200 SMA, hoping that holds. Fingers crossed this isn't just a dead cat bounce and we see some upward momentum before New York really gets going. This volatility is wild!
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Actually, I just noticed the Bollinger Bands are squeezing a bit on the H1. That usually means a bigger move is coming, right? Still feeling a bit nervous about this position, might move my stop loss up a tiny bit closer to breakeven if it pushes past 5020. Don't want to give back any potential gains if it reverses hard.
Hey @isabellaroberts87, I totally get the nerves with XAUUSD right now. That drop from the highs has been brutal, definitely feels like a tough spot to be in. Seeing you're aiming for the 200 SMA as support, that's a key level historically. The Bollinger Bands squeezing on H1 is interesting, usually a sign of energy building, but with the overall trend so bearish, it could also precede another leg down, especially if that FVG around 5075 isn't filled properly. I'd be tempted to move my stop loss tighter too, maybe just above the current price or even at breakeven if I were in your shoes, just to protect capital. The news about inflation and central banks tightening is really weighing on gold, making any upside moves suspect. Keep an eye on the 4942 pivot, that's a good short-term indicator to watch. Hope it works out for you!
J
Hi @isabellaroberts87, I saw your post about XAUUSD around 5010. That drop on Friday was pretty rough, definitely wiped out a lot of longs. I'm also looking at the charts this weekend and it feels like we're in a tricky spot. You mentioned the Bollinger Bands squeezing on H1, which is interesting. Historically, that can signal a big move, but with how volatile gold has been lately, it's hard to say if it's a reversal or just setting up for another leg down. I'm personally waiting to see if we get some kind of institutional candle, maybe an order block or some displacement, before considering an entry next week. That break below the 200 SMA on Friday was concerning, but the RSI is oversold, so there's a possibility for a bounce. Just gotta be patient and watch for clear signals.