Lingrid | GOLD Ranging Market Remains in Play
OANDA:XAUUSD continues to rotate between well-defined resistance near 42604270 and demand around 41604170, confirming a sustained sideways environment. Repeated rejections from the upper boundary and controlled pullbacks suggest neither side has full control yet. The recent A-B-C decline fits a corrective move inside the broader consolidation rather than a trend reversal.
Price is now pressing into the lower range support, aligned with channel border and historical reaction zone. A structural hold here could trigger another rotation higher toward 4,212, while sellers are likely to re-engage near the upper band. Until a decisive breakout occurs, fading the range edges offers the higher-probability setups.
Primary scenario: hold above 4160 bounce toward 4,212
Risk scenario: clean loss of 4160 shifts focus to deeper downside and range breakdown potential
If this idea resonates with you or you have your own opinion, traders, hit the comments. Im excited to read your thoughts!