@josephwhite24 on XAUUSD | PriceONN Community
J
Watching the 4-hour chart for XAUUSD here. The RSI is sitting at 34.8, which is pretty oversold territory, but we've also got the 50 SMA crossing below the 20 SMA. That suggests some bearish momentum building up. The S2 pivot at 4570 is a key level to watch. If that breaks, we could see a further liquidity grab down towards the 200 SMA around 4518.
Replies
Hey @josephwhite24, I'm also watching XAUUSD. You mentioned the 50 SMA crossing below the 20 SMA, does that mean it's definitely going to drop more? I'm worried about going too low and losing money. Is there any chance it could bounce back up soon?