Lingrid

GOLD pause at the RESISTANCE line and resume FALL

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
At the end of last week, the price almost reached the resistance level of 1763.79, after which it bounced off and began to fall.

Yesterday we expected a continuation of the fall and so it happened. The price has not yet reached the set goal, but has definitely approached it.

Now the price is at the resistance line of 1735.55, let me remind you that it was at this line that the price stood for almost two weeks in March of this year. However, last time she pushed off and fell to the support level .
I expect the same thing to happen in this case. The price tried to break through this line and rise to the level of resistance, but eventually stopped. I expect it to start falling now and return to the support level . So my final target is support level 1679.67.

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

Comments

I am considering a longer-term movement now, so I expect growth in the final.

However, I agree that the first stage of price movement in the near future is a fall.

Do you expect the forecast to be completed by the end of the week?
+8 Reply
Excellent friend! I am also looking at price movement within the global trend that began last summer. Now it seems to me that after falling to the support level, the price will be able to break through and fall below the trend line. What do you think?
+5 Reply
xauusd prices on monday decreased. such speaker, coupled with increase in open interest, may indicate potential for further reduction in price in short term. youmy favorite trader
+4 Reply
Different idea from me again.


Thnk you for sharing.
+3 Reply
Lingrid FUNTRADER-Vera
@FUNTRADER-Vera, good chart)
thank you)
+2 Reply
Do you still have a short view after this upside?
+3 Reply
Lingrid heisenberg2213
@heisenberg2213, Today I will update the idea, so wait)
Reply
Gold is flying
+2 Reply
sajithmww sajithmww
@sajithmww, It's most probably a liquidity grab before a major Gold SHORT!!!
+1 Reply
kielhudson sajithmww
@sajithmww, It was to be expected with the CPI, it will correct after the run.
+2 Reply
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