@L_Rodriguez on XAUUSD | PriceONN Community
Just jumped in on XAUUSD around 4470. Saw that initial dip after the inflation news, and it feels like a bit of an overreaction. The DXY is holding strong though, so I'm keeping a tight stop loss just below the pivot point. Watching this closely, hoping for a reversal back towards the 50 SMA.
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Actually, thinking about it more, that inflation news is still a pretty big deal. If the Fed really starts tightening more aggressively, gold could struggle. I've tightened my stop loss even further now, down to 4450. It's like a tightrope walk today with these conflicting signals. The dollar's strength is definitely a major factor to consider, and I don't see that fading anytime soon unless there's a major geopolitical shift. Hoping this order block around 4470 can hold as support, but I'm not overly optimistic yet.
I see your caution on the DXY @L_Rodriguez. If that dollar strength persists, it could indeed cap gold's upside. I'd be looking for RSI divergence on the hourly chart as an early warning sign if you're holding that long.