Lingrid | GOLD Weekly Low False Breakout. Possible Long

The price perfectly fulfilled my previous idea. XAUUSD after a steep selloff from the top, XAUUSD formed a new lower low just beneath the black support trendline, potentially faking out the weekly low. A bounce has begun, and if momentum holds, the price could reclaim the blue downtrend line, eyeing the $3,290 zone as a bullish target.

📌 Key Levels

• Support: $3,111.81
  
• Mid-range: $3,171.05
  
• Resistance Target: $3,290.00
  

⚠️ Risks

• Failure to hold above $3,171.05 may signal trend weakness
  
• Blue trendline may act as resistance
  
• Possible fakeout below support could trap bulls
  

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