Lingrid

GOLD comes to strong RESISTANCE and FALL

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has finally moved out of the zone between the support line and the resistance, in which it has been moving over the past week. And now the price is showing confident movement.

After touching the support line 1818.59, the price started to grow, then moved with a minimal change in positions for several days. And now it has definitely continued to grow.

During this growth, the price, as expected, broke through the support level of 1847.33. And this important breakout is another reason to expect the price to continue to rise. However, the price is close to the strong support line formed back in May 2019.

It is likely that in the near future the price will be able to break through this line, but for now I expect it to touch it around 1867.24 and then fall back to the level. So our target is support level 1847.33.

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

here is my idea
Reply
apreciate it.
here we go

Reply
very intersting , this would be the test point
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Agreed 110%
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I have a similar vision of the situation.

Also expecting a fall
Reply
Lingrid DeGRAM
@DeGRAM, 👍
+1 Reply
Lovely analysis 🙂 thanks for sharing !
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Lingrid FXtrades-gp
@FXtrades-gp, 🚀
Reply
can't overcome my fear of falling, it always seems that i will expand
Reply
Lingrid TradingAlchemist
@TradingAlchemist, any doubt leads to losses, you need to believe in what you are doing
Reply
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