@cokafor288 on XAUUSD | PriceONN Community

Hey @cokafor288, scaling in on dips is a smart way to try and catch the bottom! 👍 I'm personally hoping we see a big bounce next week, so I'm eyeing that 4450 level for a potential entry if it dips a bit more. Good luck with your plan!

Hey @cokafor288, I understand the scaling-in approach for gold, it's a valid risk management technique if executed properly. However, I'm a bit wary of targeting 4650 for profit-taking given the current technical setup. We just bounced off the S2 pivot at 4374.71, and the 50-day SMA is sitting at 4515.02, acting as resistance. A move back up to 4650 would require a significant shift in market sentiment, possibly driven by major news. Personally, I'm more focused on short-term moves, aiming for levels around the P and R1 pivots (4439-4476) if we can break through this current congestion. Keep an eye on the RSI too; it's hovering around 47.5, showing no immediate bullish momentum for a substantial rally.

Hi @cokafor288, scaling in on dips is interesting. I'm also trying to figure out gold right now. It's dropped quite a bit, and seeing that 4378 price makes me nervous. Targeting 4650 seems pretty optimistic given how things are moving, especially with the dollar strengthening like that headline mentioned. I'm just trying not to lose money overnight, so I'm hesitant to add to any positions right now.