Lingrid | GOLD Weekly Price ACTION Analysis

20 Okt

XAUUSD reached another all-time high this week, closing above 2700 and continuing an upward trajectory, as I mentioned in my last post. The weekly candle closed strongly following a long-tailed bar, indicating that the market has gained bullish momentum. Any pullback at this point could present an opportunity to go long, especially since, at this rate, a surge to the 3000 level by the end of the year seems plausible.

On the daily timeframe, the market is forming an AB=CD pattern, and once this pattern completes around 2745, there is a chance the market may pull back from that resistance area. However, on the weekly timeframe, we can observe a wick pointing downwards, suggesting a potential retest of about 50% of the previous week's range.


Overall, I anticipate that the market to continue to move higher, and I plan to go long during any pullbacks as we aim for the next target of 2770, which is likely to be reached sooner than expected. It’s worth noting that geopolitical concerns remain significant, prompting traders to seek safety in gold. Additionally, global central banks support, driven by consistent demand and worldwide interest rate cuts, is making gold increasingly attractive.


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

21 Okt

Dagangan aktif

The market has been on a strong upward trend this morning, breaking above the previous week's highs and setting new all-time high. At this stage, it’s prudent to wait for a potential pullback to identify an optimal entry point in anticipation of continuation. Given today's upward movement, I expect the market to retest support within the range of 2700 to 2715. If the market rejects this zone, it would likely signal a resumption of the upward trend, setting the stage for further upward moves toward the upper boundary of the channel. My goal is resistance zone around 2755.

22 Okt

Dagangan aktif

The market has formed a bearish long-tailed bar, and as I mentioned yesterday, the price has rolled back. Typically, after such momentum, markets tend to move sideways, and I believe we may see a period of consolidation over the next few days. However, at this point, there’s a possibility of a complex pullback, which could present us with an opportunity to enter long positions. I expect the market to pull back before resuming the upward trend and making new all-time highs. My goal is resistance zone around 2750

23 Okt

Dagangan ditutup: sasaran tercapai

The price reached the target zone