Lingrid | GOLD potential BUYING Opportunity from SUPPORT

The price perfectly fulfilled my last idea. XAUUSD played out nicely and hit the target. The release of new data triggered a surge in market, which ultimately broke above the previous high. This move also cleared the previous week's high, providing a clear indication of the market's upward momentum. Given that the market has reached the key resistance zone at 2400, I think it would be wise to wait for a pullback before anticipating the continuation of the bullish trend. I expect a correction towards the support area between 2363 and 2370, where we can look for confirmation of a buying opportunity with the aim of targeting the liquidity zone above 2400. My goal is the resistance zone around 2410.

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 market has indeed pulled back towards the support level, forming a bearish bar with a long tail on the daily timeframe, indicating resistance rejection. I believe the market may continue to create a two-legged pullback. If the market makes a fake breakout of the previous day's low, it could be a sign of a further bullish move. I expect a liquidity grabs below the previous day's low then a continuation of the trend. There's a likelihood that the market might form a triangle pattern before moving forward. My target is the resistance level at 2405

Trade closed: target reached:

The price hit the TP🤑