Lingrid | GOLD Sideways Movement Ahead of FOMC Decision

10 366
XAUUSD perfectly played out my previous trading idea. Price is holding inside a well-defined consolidation after its prior surge, with price rotating above the rising channel base. The trend remains constructive, but momentum has cooled, suggesting participants are waiting for a catalyst rather than committing aggressively.

If buyers continue to defend the trendline and the lower boundary of the range, gold could attempt another gradual push toward the upper resistance near 4,300. A brief dip toward the channel support may occur to gather liquidity, potentially offering a better positioning point before any renewed upside attempt.

➡️ Primary scenario: support holds near 4,160 → rotation higher toward 4,300.
⚠️ Risk scenario: a sustained breakdown below the channel could weaken the bullish structure.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
Trade active
GOLD is rotating around the mid-range zone after rejecting the wedge breakout retest, holding above the higher-low structure that continues to support the bullish bias. Price is hovering just above the 4,200 level, which has acted repeatedly as an intraday balance point. The market appears to be building energy, and the corrective slide into support looks more like a reset than a reversal.

If buyers defend the 4,200 again, gold may attempt another push toward the overhead liquidity pocket sitting near 4,247, where prior fake breaks and trendline interactions cluster.
snapshot
Trade closed: target reached
+1115 pips REACHED

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.