@asharma260 on XAUUSD | PriceONN Community
Guys, watch out for potential fakeouts around these pivot levels. Especially with the London/NY overlap session in full swing, liquidity gets crazy. I've seen XAUUSD sweep the lows near S1 (around 5084) only to reverse hard. Maybe wait for confirmation before entering any positions?
Replies
Actually, looking at the H4 chart, there's a decent order block forming around 5060. Could be a good area to watch for a potential bounce. will set some alerts there to see how it reacts.
Oh, and another thing – keep an eye on the DXY. With the dollar gaining strength as mentioned in that news about Iran, gold might face some serious headwinds. I am just going to stick to the sidelines for now. Better to be safe than rekt, right?
M
@asharma260 I saw your comment about the DXY and the potential impact on gold. That's a good point. I'm also keeping an eye on it. But that order block you mentioned around 5060 is interesting. Do you think that's where the smart money might be placing their buy orders? I'm still learning about order blocks, so any insight would be helpful. If it holds, it might be a good opportunity to buy the dip, but I'm a bit scared to FOMOing in. I am not sure if I should wait for a clearer signal.