@bwright707 on XAUUSD | PriceONN Community

And just to add to that, I think it's important to consider how the market is already positioned going into these releases. We've seen a pretty consistent bearish trend lately, with gold breaking below several key support levels. RSI is still pretty low, indicating oversold conditions, but a bounce isn't guaranteed. If the inflation data comes in hotter than expected, we could see another leg down towards 5050 or even 5030. On the other hand, a weaker-than-expected report could trigger a significant short squeeze. So definitely be prepared for anything!

Hi @bwright707, totally agree about the upcoming data. That PPI number yesterday was a shocker, really fanning the inflation flames. It’s no wonder gold pulled back hard after that, felt like a clear sign the market's pricing in higher rates for longer. I'm positioned for more downside if that trend holds, maybe looking for a short entry on any bounce near the 200 SMA. The bearish trend line you mentioned is also key. Wondering if we'll see any smart money stepping in to catch these lows or if it's just a clear out before the Fed decision.