Gold traded Monday near the key resistance of the short-term downtrend at 1782 – 1780. Having failed to break through, the price got back under the margin zone.
As the downtrend continues, short trades should be given priority. To start selling, we need a pattern. We will then open short trades with a target at 2 December’s low and Gold zone 1759 – 1757.
If we don’t see any selling patterns and the Intermediary zone is broken to the upside, the short-term trend will turn upwards. The upper Target zone of 1803 – 1799 will then be a buying target.
Trading plan for XAUUSD for today:
Sell according to the pattern from Intermediary Zone 1782 – 1780.
TakeProfit: 1763, Gold zone 1759 – 1757.
StopLoss: According to pattern rules.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.