Lingrid | GOLD Weekly Market Technical Analysis

3 дня назад

The recent movement in the XAUUSD market indicates a period of consolidation after the initial upward momentum and the following pullback suggests that the market may not yet be ready to continue rising. It is important to note that the market is still trading within the range of the previous monthly candle. If you look at the last few months of the previous years you will notice that the market has usually been in sideways movement. This may be what is happening in the current market.


On the weekly timeframe, the market has formed a long-tailed bar, which resembles a fakey bar reversal pattern. This indicates that the price made a false breakout above the two previous weekly highs. Such a pattern suggests the possibility of the price moving below last month’s low towards the support level around 2530.

On the daily timeframe, the price action is showing lower highs and higher lows, thus creating a triangle pattern. This pattern is typically viewed as a trend continuation pattern. However, due to the fakey pattern on the weekly, there is a likelihood that the price may move lower. Overall, I anticipate that the price to fall if the market breaks below the weekly low at 2,627. Additionally, with next week packed with high impact news expected to increase volatility, it is crucial for us to remain vigilant.

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

3 дня назад

Сделка активна

The market bounced off the upward trendline and is slowly moving higher. On the daily timeframe, the price has made a false breakout below the previous daily low and may continue to rise. Given the high-impact news today, the price could move in either direction. However, I believe the market may retest the 50% level of the previous weekly range before a potential bearish move. If the price breaks and closes below the upward trendline and the previous weekly low, we may see a sell-off that brings the price below the psychological level of 2600. I expect a price rebound at resistance around 2670, if upcoming news doesn't drive the price higher. My mid-term goal is support level at 2600

6 часов назад

Сделка закрыта: достигнута тейк-профит цена

Full target reached 🤝