Lingrid | GOLD counter-TREND Trading: Short-term PULLBACK

13 thg 9

The price perfectly fulfilled my last idea. XAUUSD reached an all-time high of 2570, hitting both the resistance zone and the channel border. With no high-impact news today and given that it’s Friday, there's a likelihood that we might see a pullback, as markets often make corrections at the end of a trending week. Additionally, the price action appears to be decelerating as it approaches the resistance zone, indicating potential weakness. Considering that markets move in ebbs and flows, there’s a good chance that we could see a retest of the 2550 support level before any further upward movement. My target is support zone around 2544.800


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