Lingrid | GOLD Possible False Breakout - Correction Setup

Nov 11

XAUUSD has extended its rally after a clean breakout from the range zone, now testing a confluence area near 4,155 within the resistance zone. The structure forms a steep upward channel with a potential short-term exhaustion pattern near the upper boundary. If price fails to sustain above 4,150, a corrective pullback toward 4,065–4,000 could unfold. The broader momentum remains bullish but stretched, suggesting a possible pause before continuation.

⚠️ Risks:

• A breakout above 4,150 could accelerate momentum toward 4,220.
  
• Softer U.S. inflation data may weaken USD and fuel further gold demand.
  
• Rising geopolitical tensions could boost safe-haven inflows, invalidating pullback scenarios.

If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!

Nov 12

Trade active

XAUUSD continues to trade near the upper boundary of its rising channel after testing resistance around 4,150. The structure shows a upward channel with multiple higher lows confirming ongoing short term bullish control. A short-term pullback toward the 4,060 level remains possible before buyers reassert momentum. Overall, the market is consolidating under resistance, hinting at potential exhaustion in the near term.