Lingrid | GOLD Correction followed by EXPANSION

The price perfectly fulfilled my last idea. XAUUSD took off and hit the target. It reached the resistance zone, where the market participants will decide whether to push the price higher or lower. It may form a triangle pattern or just a range zone. Either way, a pullback in the gold market is going to be an opportunity to buy. I think the market will retest the Friday high or close price. If the price tests the support level, then most likely the market will rebound from it and from the upward trendline. My goal is the resistance zone around 2275.000

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

Comment:

The price perfectly fulfilled my last idea. The market tapped the entry zone and moved higher toward the resistance zone. XAUUSD is moving sideways, probably forming a compression channel, like a triangle pattern. On the daily timeframe, price acton created a bullish candle with wick, which means bears tried to push it lower. I think the market will retest the higher high. If the market breaks the previous high, it can open the road to resistance at 2300. My goal is resistance around 2285.000

Trade closed: target reached:

The gold market literally took off from the entry point and reached the target level.