Gold- Towards target after confirmation?
Updated
In yesterday's post, I highlighted the high probability of an upward breakout above the 2655–2660 resistance zone. As anticipated, XAU/USD successfully broke through this key level, confirming its importance.
Following the breakout, the price reached a high near 2675 before undergoing a normal correction. This pullback was healthy for the trend, as it retested and confirmed the previously broken resistance zone (2655–2660) as new support. This successful retest reinforces the strength of the bullish momentum.
Looking ahead, my outlook remains optimistic. I anticipate a new leg higher, with the price likely targeting the 2685 resistance zone. I will maintain my bullish stance as long as the 2660 area holds firm as support. My preferred strategy is to "buy the dips," taking advantage of pullbacks within the broader uptrend.
Following the breakout, the price reached a high near 2675 before undergoing a normal correction. This pullback was healthy for the trend, as it retested and confirmed the previously broken resistance zone (2655–2660) as new support. This successful retest reinforces the strength of the bullish momentum.
Looking ahead, my outlook remains optimistic. I anticipate a new leg higher, with the price likely targeting the 2685 resistance zone. I will maintain my bullish stance as long as the 2660 area holds firm as support. My preferred strategy is to "buy the dips," taking advantage of pullbacks within the broader uptrend.
Trade active
XauUsd existed the consolidation phase.
My 2685 is in focus now
Trade closed: target reached
During the day, I decided to rise my take profit to 2695, and it proved to be a good choise with Gold reaching that level.
Trade closed with 360 pips profit
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