Lingrid | GOLD long from the SWAP zone

Aug 9

The price perfectly fulfills my last idea. It hit the target zone. XAUUSD has broken and closed above the highs of the last two days, also surpassing the swap zone where the price has reacted multiple times in the past. Upon analyzing the 1H chart, we can observe a series of strong bullish candles accompanied by gradual pullbacks that have established higher lows. With less high-impact news expected today, I expect the market to continue to consolidate. However, I believe the market is likely to push higher, closing this trading week above 2430 resistance, which would be a highly bullish sign. My goal is resistance zone at 2447.

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