Lingrid

GOLD under pressure. Breakdown?

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
The price is pressed towards resistance, there is no renewal of local lows and, as it should be, the price does not go down to support. I think that if such a downward movement towards resistance continues, the level may be broken. My target is the trending local resistance level


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

Comments

Again, Lingrid has no CAUSAL explanation. She/He says "priced is pressed"...by what? The only reason gold drew back was because of Vice Fed Chair's speech where he mentioned possibly tapering at the end of 2022. Of course no one believes this because the US government is already bankrupt. But, market manipulators always take the opportunity as an excuse to slam the price and try to defend the USD. Japan is following China, Russia, and many other countries in dumping the USD and US treasuries. At the same time the Fed is keeping the yield curve down.
+4 Reply
And I like the idea that XAUUSD will reach 1826.90000, I’ll already think there ...
+1 Reply
Were not you bearish with target around 1750 USD just recently?

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Excellent. Do you think there is still an increase in gold in the short term?
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wonderful Trade Setup Pro 👏😎
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1% risk on this trade is sufficient?
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Your amazing 👍🏻
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@Sobhan_23 you’re *
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You very accurately describe everything!
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