Lingrid | GOLD Price SQUEEZE. Potential BEARISH Opportunity

5 Des

The price perfectly fulfilled my last idea. It hit the target level. XAUUSD is currently squeezed and moving sideways, generating liquidity both above and below. On the 1H timeframe, the market has formed an ascending triangle pattern, which typically breaks to the upside. However, there is a channel border above that acts as dynamic resistance. Therefore, I expect the price to move higher to grab liquidity above before potentially moving lower. As the price action continues to move sideways, it approaches that trendline. If the price rejects the resistance, we can expect it to move lower than 2600. On the other hand, if it closes above the resistance, we can anticipate the price reaching around the 2720 levels. My goal is support zone around 2585

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

6 Des

Trade aktif

The gold market is still oscillating around the 2650 level as it awaits the upcoming NFP data. Yesterday, the market showed poor reaction to news, with the price breaking below the previous day’s low but then swiftly pulling back toward the 2650 resistance level. If the price falls from this resistance zone, we could see a move toward the previous week’s low. Given the significance of the NFP release today, the price could potentially move in either direction. However, if there is a rejection at the 2650 resistance level and the upward trendline, we might witness a substantial sell-off. It will be crucial to watch how the market reacts to the NFP data, as volatility is expected to increase. My goal is support zone around 2620

7 Des

Trading ditutup: target tercapai

Price hit 2620 support