Lingrid | GOLD bullish TREND Continuation Potential

market tested the 2880 level as I anticipated yesterday. It formed a false breakout from the consolidation zone and moved higher, breaking above the 2900 level and by taking liquidity from below the range zone. Currently, the price is testing the midpoint of the consolidation zone, which typically acts as both support and resistance. Therefore, there is a possibility that the price may roll back, especially if upcoming news proves to be negative for the market. However, this seems unlikely given the current bullish momentum. Since the price has tested the zone below the consolidation zone, I expect it to aim for the zone above the consolidation zone and previous week high. My goal is resistance zone around 2935

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

Trade active

The Tuesday daily candle is bullish, indicating a positive shift after three consecutive bearish days. The market has moved higher and closed near the previous weekly high. On the 1H timeframe, the price has broken the downward channel and is currently pulling back toward the support level. While I anticipate that the market may be choppy around these levels, I think the price will eventually push higher. Given that we have high-impact news today, we can expect increased volatility and unexpected spikes.I expect the market form move back and forth around this and then ultimately move above the consolidation zone. My goal is resistance zone at 2933

Trade closed: target reached

The trade nicely played out

Lingrid

💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi

🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid

🌎WebSite: lingrid.org

Also on:

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.

Lingrid