@DeepTrail80 on XAUUSD | PriceONN Community
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I'm also keeping an eye on the economic calendar, especially with the market still reacting to the recent macro shifts. While today's Asian session is quiet, the upcoming days could be volatile. We have some key US inflation data and employment figures due later this week. If those numbers come in hotter than expected, it could put pressure on gold as the Fed might hold off on rate cuts longer, strengthening the dollar. Conversely, any signs of cooling inflation could give gold the boost it needs to finally clear that $4,900 hurdle. It's all about the narrative shift right now.
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Hey @DeepTrail80, I agree that the upcoming data could inject some serious volatility. From a technical standpoint, gold is deeply oversold on the daily RSI, currently sitting at 23.4. If we see any positive geopolitical news or a weaker-than-expected inflation print, I expect a sharp move upwards, potentially testing the 50 SMA around 4799.
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Hey @DeepTrail80, I get you're looking at the macro stuff, which is fine, but honestly, I'm not worried about some data release later this week. My strategy is pure price action, and right now XAUUSD is showing massive strength. Forget that 23 RSI on the daily @spectrax654 mentioned, that's for guys who are scared to pull the trigger. We're already above the 50 SMA and pushing towards the Bollinger upper band. If we break 4730 cleanly, it's gonna rip. Trust me, my 100x leverage is already in, and I'm not even looking at the stop loss. We ride this one out. This is how you make real money, not by waiting for permission from some economic report.