Lingrid | GOLD Potential EXIT from the CONSOLIDATION Zone

2 gen

XAUUSD moved higher and is currently testing the previous week's high. It has broken out of the consolidation zone, and notably, the price has also broken and closed above a trendline that acted as a resistance zone for more than three weeks. I believe the price is targeting a retest of the weekly high at 2,665. However, I anticipate that the market may experience a pullback before continuing its upward trajectory. Looking left on the chart, we can see that the price has bounced off this support level several times in the past, reinforcing its significance. Therefore, it would be prudent to wait for confirmation of further movement. My goal is resistance zone around 2663

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

3 gen

Trade chiuso: obiettivo raggiunto

The price went up and hit the target zone