Lingrid | GOLD testing KEY support Level

The market plunged to a key level at 2300. XAUUSD is testing the previous week's low. XAUUSD has reached the buy zone, as I mentioned in my weekly outlook. On the weekly timeframe, the price went below the last 2 weeks low. We should pay attention to how the day closes today. I think the market might form a small-range zone and then break through it upside. Basically, I expect a bullish move toward the resistance zone if we get a signal in the form of a rejection candle. My goal is the resistance zone around 2350.


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; it bounced off the key support level. XAUUSD formed a long-tailed bar showing a support level rejection on the daily timeframe. The price might continue to range because we had a sell-off before, which then came sideways. I think the market may retest 50% of the previous daily range and then surge upwards. I expect a retest of the recent resistance zone and channel border. My goal is the resistance zone around 2349.000

Trade closed: target reached:

Congratulations to you, the one who took the trade. The market perfectly touched the entry zone before making its way up to hit the take profit. 🤑