@mumKavita22 on XAUUSD | PriceONN Community
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This drop is insane. I bought gold around 4700 thinking it was a dip but it just kept falling. Now I'm seeing it below 4660 and my account is bleeding. Is this because of that Fed news about rates staying high? I don't even know if I should cut my losses now or if it might bounce back by morning. This is my first big trade and it's terrifying. I'm watching the 4600 support level nervously.
Replies
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I keep thinking about that news about the Fed and how they're not cutting rates. It makes sense that gold would drop if borrowing costs stay high, right? People probably want to put their money in things that pay interest instead of holding gold. But then again, sometimes gold goes up when there's bad news. I'm so confused. My position is still losing money and I'm not sure what to do. I wish I understood these things better before risking so much. Maybe I should just close it and take the loss before it gets even worse. The 4600 level looks so weak now, I don't think it will hold.
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Seriously, is anyone else just staring at their screen, heart pounding? This volatility is way more than I expected. I guess I need to learn how to manage this better. Moving my stop loss lower seems like a bad idea right now but holding feels worse.
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@mumKavita22 Hey, don't sweat it too much. Friday was brutal for gold, that drop from 4700 to below 4660 was insane. That Fed news about rates is definitely a big factor, makes sense why gold is struggling. But honestly, for us scalpers with high leverage, sometimes you just gotta ride the wave. I was already out by then, took my small profit and ran. You should try cutting losses earlier, trust me, it saves your account for the next big move. Don't let it bleed! 🤑
@mumKavita22 Seriously, this whole week was a bloodbath for gold. Don't beat yourself up too much about buying at 4700; a lot of people got caught in that massive liquidity grab. That Friday drop was insane, straight through my short-term support levels. The Fed news is definitely a huge part of it, keeps the dollar strong and gold weak. Honestly, seeing it close below 4500 is brutal. I'm not sure about a bounce by Monday morning, especially with this kind of bearish momentum. Maybe it's better to take that small loss now than risk it gapping down even harder. But hey, what do I know, I'm just looking to scalp the next move.
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@mumKavita22 Don't worry about buying at 4700. This whole market is a joke. They were probably just waiting to grab all those stop losses before they let it drop even further. Classic manipulation playbook.