@funmilayo91 on XAUUSD | PriceONN Community

Another update: I'm keeping a close eye on that 50 SMA. If XAUUSD can't hold above it, we could see a serious drop. I remember back in '21 when gold had a similar pattern; it broke the SMA and just kept falling. I'm not saying it will repeat exactly, but it's a good reminder to be cautious. Maybe I will set a tighter stop-loss if I see further weakness, just in case. What do you all think about this?

Update: I've decided to sit on my hands for a bit. I was tempted to jump in short when it dipped below 5280, but the news cycle is so volatile right now. I'm thinking a major announcement could easily reverse this trend. I'm going to wait until after the US data release later today and see how the market reacts before making any moves. Better to miss a small profit than risk a big loss, abi?