Gold can reach seller zone and then drop to support level

Hello traders, I want share with you my opinion about GOLD. Looking at this chart, we can observe how the price moved within an upward channel before reaching the resistance line and making a corrective move down to the support line. After that, Gold climbed to the support level, which aligned with the buyer zone, and eventually broke through, exiting the channel. Following this breakout, XAU began trading within a range, briefly pulling back to the buyer zone before resuming its upward movement. Shortly after, Gold reached the seller zone and consolidated there for some time, as this area coincided with the upper boundary of the range. Later, the price made a correction down to the support level before reversing direction. Since then, the price has been rising steadily, and at this point, it remains in an uptrend. Given this setup, I expect Gold to re-enter the seller zone before initiating a decline toward the support level, which aligns with the lower boundary of the range. Based on this, my target is set at the 2850 support level. Please share this idea with your friends and click Boost 🚀

Trade active

Gold made a small correction. But I continued to the moment, when it enters the seller zone, after which it starts to decline.

Trade closed: target reached

Okay, Gold continued to fall, without movement up to the seller zone.

LegionQ8

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LegionQ8

🔷Join my telegram channel for free - bit.ly/4g4wovR

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