The price perfectly fulfilled my last idea. It hit the target. OANDA:XAUUSD surged and reached the resistance zone. I think the 2120 level will play an important role; price action may form a range zone around this level after an impulse move. On the 4h timeframe, we have lost some of the bullish momentum. It seems bulls are out of breath, which means some pullback from the resistance zone. It formed an inside bar pattern. Also, it could buying climax, which suggests an upcoming retracement. I expect a short-term pullback or range zone between 2210 and 2190. My goal is the support around 2190.000
Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
Thank you @Lingrid for this brilliant idea. I am still selling and able to take profit till #2171. I believe there are more selling opportunities. And gold should be at 2100 by next week. I believe it will show the same sequence of events when gold reached high when the Ukraine Russia war started. After that, it started to cool down aggressively. I hope it goes to 1900-1850 again.