Lingrid | GOLD Key Level Breakout Triggers Bullish Continuation
OANDA:XAUUSD perfectly played out my weekly trading idea . Price has confirmed a clean breakout above the former consolidation ceiling, shifting market structure firmly back in favor of buyers. Price compressed inside the triangle before expanding with strong momentum, suggesting accumulation rather than exhaustion. The breakout zone around 4525 now acts as a key demand area, reinforcing bullish intent.
As long as price holds above this reclaimed level, continuation toward 4650 and potentially the higher resistance band remains plausible. A shallow pullback into the breakout zone may even strengthen the upside case by resetting momentum before the next leg higher.
Primary scenario: hold above 4525 continuation toward 4650.
Risk scenario: sustained acceptance back below 4520 may delay the move and trigger a deeper consolidation.
If this idea resonates with you or you have your own opinion, traders, hit the comments. Im excited to read your thoughts!