Lingrid | GOLD possible CONSOLIDATION Following a Fake Break

The price perfectly fulfilled my last idea. It hit the take profit level. XAUUSD appears to have made a false break of Tuesday and Wednesday's highs before reversing. Currently, the market is forming a bearish long-tailed bar on the daily timeframe, which may indicate a deeper correction or a consolidation zone between the 3100 and 3140 levels. If the price pulls back toward the support level, I believe it may rebound from there. Given the upward trendline and channel border, this area could serve as an optimal entry point in anticipation of further upward movement. However, with high-impact news scheduled for today, we should remain vigilant, as the market may experience increased volatility. My goal is resistance zone around 3160


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