GOLD first step - growth, second step - FALL

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
In July last year, the price broke through the strong resistance line at 1823.11 during the growth, reached its local maximum of 2070.70 and began to fall from this point. During the fall, a downward channel was formed, which the price broke only during important world events - for example, the US elections or the riots in Washington.

During the fall, the price came to a strong support zone 1673.22, where the trend line and the senior support line of June 2020 crossed. The price bounced off this zone, but after a few weeks it fell back to the line and consolidated at point 1683.93. After a rebound from this line, the price started a new growth and now continues it.

I expect that gold will continue to rise and stop only at the resistance line of 1773.59, after which it will reverse in the fall and come to the support line at 1699.98.

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


Yesterday you said direct fall to 1680 and now you are saying first up to 1770 and down to 1700, which one is correct? Who sold yesterday in 1735 with your recommendation, where they will go!
+17 Reply
BABRI babakbagheri1
@babakbagheri1, The market continues to change direction and so should be the trading strategy. She is not a Market Maker.
+4 Reply
Lingrid BABRI
@BABRI, I'm just going in the direction of the news market, today there will be many important people who can also change the course of events)
so use a stop loss and do not forget about the fundamental factors
+1 Reply
BABRI Lingrid
@Lingrid, Yes. I understand you.
+1 Reply
BABRI Lingrid
@Lingrid, Don't stress yourself anymore and ignore the critics. I am on your side.
+2 Reply
Lingrid BABRI
@BABRI, thank you for your support and understanding)
and I know that my knowledge is very helpful to beginners, I read the feedback and it does not give me a reason to be sad
+3 Reply
@Lingrid, Well Sister i have got to tell you.

you cannot suffice everyone.

Your contribution is already Fortune enough, besides there will always be people to mess around with you no matter what you do!!

Please don't be discouraged by those people.

and keep up the great work that you are already doing!!
design_dreams babakbagheri1
@babakbagheri1, who sold from 1735 is in deep sh**t ;(
kielhudson design_dreams
@design_dreams, lol nope.
+1 Reply
design_dreams kielhudson
@kielhudson, thanks for calming my little heart attack, lol
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