Lingrid | GOLD counter-TREND Trading: Short-term PULLBACK

13 Sep

The price perfectly fulfilled my last idea. XAUUSD reached an all-time high of 2570, hitting both the resistance zone and the channel border. With no high-impact news today and given that it’s Friday, there's a likelihood that we might see a pullback, as markets often make corrections at the end of a trending week. Additionally, the price action appears to be decelerating as it approaches the resistance zone, indicating potential weakness. Considering that markets move in ebbs and flows, there’s a good chance that we could see a retest of the 2550 support level before any further upward movement. My target is support zone around 2544.800


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