@aryanverma26 on XAUUSD | PriceONN Community
This sharp drop on XAUUSD is making me nervous. RSI is deep in oversold territory, but the momentum indicators still look heavy. I'm wary of a potential bear trap forming here. The 4800 psychological level is being tested, and a bounce could be a fakeout before another leg down. Need to see volume confirmation on any upward move.
Replies
Interesting take, @aryanverma26. I'm also seeing that RSI deep in the hole, but honestly, the price action looks like a freefall right now. Swept the lows pretty hard yesterday. I'm not convinced it's a bear trap just yet, might be more pain before any real bounce. Gotta watch that volume.