GOLD - Price can bounce up from support line to resistance level

Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊

After price started to trades inside rising channel, it at once rose to $2730 level from $2610 level.

Then price broke it and some time traded inside resistance area, where it made a gap and later grew to resistance line.

Next, price turned around and started to decline inside falling channel, exiting from rising channel.

In falling channel, Gold broke $2730 level and some time later reached $2610 level and some time traded near it.

Recently price broke it and fell to support line of channel, but a not long time ago it bounced up.

So, in my mind, Gold can fall to support line again and then bounce up to $2610 resistance level.

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Trade active

Gold rose a little, as I said yesterday. So, I kept waiting until it reaches my target, which is the $2610 resistance level.

Note

I'm still waiting for Gold to rise to my target.

WalterMoon

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WalterMoon

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