Lingrid

GOLD first - growth, second - FALL

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
So, the price is still moving along the target we have set: it has dropped to a strong support zone - a close alignment of the level and line at point 1850.15.
Then she pushed off from this point and began to grow. Like last time, I expect the price to come to a strong resistance zone where two lines are close to each other.


However, I am confident that the price will not be able to break through this zone.
But it will probably be able to break through the nearest resistance line.
Thus, I expect the price to break the resistance line 1885.75 and touch the resistance line 1888.10 during the growth. This will be our intermediate goal.

Then the price will reverse and start a downtrend.
Final target - support zone 1850.15.

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

I think it will bounce back from the lower side of the trendline
+1 Reply
Lingrid velmunis
@velmunis, 👌
Reply
I have a similar vision of the situation.

Also expecting a fall
+1 Reply
Lingrid DeGRAM
@DeGRAM, i appreciate that you agree with me)
Reply
thank u for your post as u can see it has hit the 1820s do u think it can rebound to the 1850s and then to the 1870s and 90s or are we seeing a new down trend
Reply
Lingrid imhmdmahdi
@imhmdmahdi, will up
Reply
Great analysis. Thank you!!
Reply
Lingrid TheForexGoat
Reply
Mine is done now.
Gold did not rise up to 1890 that high.
Reply
Lingrid FUNTRADER-Vera
@FUNTRADER-Vera, thank you for sharing the idea)
Reply
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