Lingrid | GOLD Correction and NEW EXTENSION

The price perfectly fulfilled my last idea. It reached the targeted level. XAUUSD broke above the range zone and made an impulse move. The market updated swing highs and fixed above the 2100 level. I think that the price reached the point where it might most likely pullback. If the price makes a fake breakout, then we can expect a correction. I expect the price to pullback toward the support level or swap zone, then move higher to retest the all time high levels. My goal is resistance at 2148.435

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

Comment:

The market reached the weekly resistance zone. We can already see some rejections. We have five consecutive bullish days in a row. I think the market will stay in the range zone until the NY session before news comes out. It is hard to predict how the market will react to the news. Either the market will take liquidity above the all-time high levle, then move down, forming a retracement, or the market will make a nose dive towards the support zone at 2090–2100, then continue moving upward, making higher highs. Overall, I expect a choppy market. My goal is the resistance 2147.500

Trade closed: target reached:

Target level reached