@funmilayo91 on XAUUSD | PriceONN Community

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funmilayo91 PRO newbie
XAUUSD Mar 3
Honestly, this XAUUSD movement is giving me a headache this morning! One minute it looks like it's going to break through resistance, the next it's diving back down. I'm trying to stay patient and wait for a clear signal, but it's testing my nerves. Is anyone else feeling this chop?
XAUUSD

Replies (2)

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funmilayo91 PRO newbie Mar 3
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?
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funmilayo91 PRO newbie Mar 3
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?
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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