@timothy2002 on XAUUSD | PriceONN Community
Woke up and saw gold dropped like crazy overnight. What happened? Did that geopolitical news really send it down so much? My small long position from yesterday is looking pretty bad right now. Ugh, I think I bought at the top again.
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Seriously, this is so annoying. I was just hoping for a little bounce today, but it looks like it's just going to keep falling. I don't even know if I should cut my losses now or just wait and hope it somehow recovers. This whole market is so scary when you're just starting out. I'm really starting to think I should have stayed away from gold. The news about the US futures dropping too just makes me sick.
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Yo @timothy2002, don't sweat it too much man, we've all been there buying the top. That overnight drop on XAUUSD was nasty, no doubt. Those headlines about Iran and the DXY rebound definitely hit hard. But look, the RSI is sitting at 52, still pretty neutral. I'm thinking this might be a shakeout before a bigger move. I just YOLO'd my account on a massive short at 4675, let's see if this thing keeps melting. If it bounces back hard, I'll just flip it to a long. Margin is for making money, not for being safe!