Lingrid | GOLD possible OPTIMAL Zone to SHORT the MARKET

١٩ نوفمبر

The price perfectly fulfilled my last idea. It hit TP level. XAUUSD is currently pulling back to the resistance zone at 2650 and the downward trendline. The price broke and closed above the 2600 level, suggesting that bears may not be interested in shorting at these levels. There is a possibility that the market could rally above to retest the previous week's low. I expect the price might remain within the range of the previous week, forming an inside bar pattern. This consolidation could lead to indecision among market participants as they await the impact of the upcoming news. My goal on is support zone around 2585

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

٢٠ نوفمبر

تم فتح الصفقة

The price has indeed bounced off the downward trendline and the resistance zone that was highlighted previously. The formation of a double top indicates a potential reversal, and the market is currently pulling back toward support levels. I believe the market may dip below the previous day's low and retest the psychological level at 2600. On the 4H timeframe, the lack of bullish momentum is evident, as the market has not produced big bullish candles such as engulfing, but rather shows signs of price deceleration. Given these factors, I expect the price to move lower and retest at least the previous day’s low. My goal is support zone around 2600