Lingrid | GOLD complex PULLBACK in Trending MARKET

l’altro ieri

As I mentioned yesterday, the price has completed an ABCD pullback towards the daily low. The market made a fake breakout of Thursday's low before bouncing off the support level. Given that the market made a complex pullback, there is a chance it may have entered a consolidation phase in anticipation of the upcoming FED rate cut decision. Looking back at the period from November 1 to 5, we can observe a similar pattern where the price moved sideways between 2730 and 2750 before dropping ahead of the Fed's decision. However, considering the current bullish momentum, I believe the market may push higher and potentially test the 2800 level this week. My goal is resistance zone around 2770

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

17 ore fa

Trade chiuso: obiettivo raggiunto

Full target hit🤝