Lingrid | GOLD slows DOWN: Identifying OPPORTUNITY to Buy

Oct 24

XAUUSD formed a deeper pullback following the news release yesterday and has since bounced off a support level, which may indicate a potential entry into a consolidation phase. With another packed schedule of news events today, we could see volatile moves and spikes in the market. I anticipate that the market may pull back to take liquidity below the previous day's low and potentially retest the psychological level at 2700 before moving upward. My goal is resisatnce zone around 2770


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Oct 25

Trade active

XAUUSD is currently retracing towards a strong support level, showing an overall sideways movement. It appears that the market may retest the trendline and channel boundaries, forming a confluence zone. I believe the market is creating a complex pullback in the shape of an ABC pattern. If the price makes a false breakout below Wednesday's low and subsequently bounces off the confluence zone, we can anticipate a retest of the recent resistance zone. My goal is resistance zone around 2740