The price perfectly fulfilled my previous idea. It hit the target zone. The price of 
XAUUSD is currently at a critical level, as it faces resistance near the weekly high and the February high, where it may struggle to break above. However, the price broke and closed above the upward channel, which is a bullish sign. Overall, the price action is forming an ABC move, with point C expected to complete around the 2975 level. Additionally, the price has broken above a bullish flag pattern on the 1H timeframe. Given the high-impact today, there is a possibility that the price could make a false breakout above the February high before pulling back after the news release, so caution is warranted. I expect the market to complete the ABC move, although there is also a chance that the price may take liquidity above the key resistance before rolling back. My mid-term goal is resistance zone around 2975
XAUUSD is currently at a critical level, as it faces resistance near the weekly high and the February high, where it may struggle to break above. However, the price broke and closed above the upward channel, which is a bullish sign. Overall, the price action is forming an ABC move, with point C expected to complete around the 2975 level. Additionally, the price has broken above a bullish flag pattern on the 1H timeframe. Given the high-impact today, there is a possibility that the price could make a false breakout above the February high before pulling back after the news release, so caution is warranted. I expect the market to complete the ABC move, although there is also a chance that the price may take liquidity above the key resistance before rolling back. My mid-term goal is resistance zone around 2975Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment 📣
Trade closed: target reached
The market surged and completed the ABC move
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🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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Disclaimer
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💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.