Lingrid

GOLD STOP at RESISTANCE level and FALL

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Although the price of gold has not shown a strong movement over the past two days, it continues to grow slightly towards resistance.

First, the price bounced off the support level of 1679.67.

Then it continued to rise and broke through the resistance at 1738.56.

I expect that after the breakout the price will continue to rise, but will stop near the strong resistance level of 1770.35. Then it will turn around, break through the line 1726.73 again, this time during the fall, then consolidate on the line. And it will continue to fall to support. Thus, my final target is the support level 1679.67u.


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

Comments

Do you think it would be wise to buy if price gets to the resistance at 1745 and then ride up to the 1765 - 1770 area? Your analysis is so good btw im in your discord lol keep it up!
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Lingrid TheTradingClub_
@TheTradingClub_, if you have a desire, but you can buy up to the level)
but I would advise you to sell from 1770.35.
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Great🤩
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Thats what im looking for i see un my chart and waiting to see confirmation for you. :)
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Lingrid Krasimir5
@Krasimir5, thanks a lot for your feedback)
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Can it come down from 1740 to 1715
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Lingrid RJiin
@RJiin, if you feel that way, then do so)
but I have a different opinion about the sell)
from resistance level of 1770.35 to support level 1679.67
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