Lingrid | GOLD capitalizing on RETRACEMENT. Opportunity to BUY

13 thg 8

The price perfectly fulfilled my last idea. XAUUSD is currently trading near the previous resistance zone. The price has hit this resistance and appears to be pulling back. However, it has not yet reached the July high. The last daily candle was very bullish, indicating that it may be on the verge of breaking above this resistance. On the weekly timeframe, the price has broken through last week's high, further supporting a bullish outlook. However, given that we have high-impact news scheduled for today, it’s unclear what the market will do next. I anticipate that the market may spike upward before pulling back, or it could decline straight down towards the support level before eventually moving upward again. My target is resistance zone at 2485.000

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

14 thg 8

Ghi chú

The gold market has recently moved sideways after showing bullish momentum. It has broken and closed above the significant level of 2450. Currently, it appears to be forming a consolidation range, as if awaiting a catalyst to trigger movement upward, possibly aiming for the strong resistance at 2500. Current level has been tested twice before, and a third approach may lead to a breakout. If the upcoming news is favorable for gold, we could see it reach the resistance level at 2550, especially considering that the weekly candlestick suggests potential for further upward extension. Overall, the outlook remains bullish as long as the price maintains above the 2450 level. My target is resistance zone around 2495.

15 thg 8

Ghi chú

The market dipped below the consolidation zone, as I mentioned in my last post. The price was pushed back and later bounced off a support level, taking liquidity below the 2450 level. Today, we are facing another high-impact news event, which could drive the price either up or down. If the price breaks through the upward channel, we may see it move to lower levels. However, I believe the market will likely consolidate between 2450 and 2475 until next week. Overall, I expect continued consolidation until we observe a clear trend on the 1H chart. My target is resistance around 2479.500

15 thg 8

Giao dịch đang hoạt động

The price is currently testing the boundary of a consolidation zone, which may result in a pullback.