Gold is trading in the short-term downtrend. The price is being corrected up and could test resistance (A) 1897 – 1894. When the resistance zone is reached, I suggest entering new sell trades with a target at the low of February 6.
If resistance (A) is broken out upside, the price will reach the trend border 1916 – 1911, one can also enter sell trades.
XAUUSD trading ideas for today:
- Sell according to the pattern at resistance (А) 1897 – 1894.
TakeProfit: 1860.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 1916 – 1911.
TakeProfit: 1860.
StopLoss: according to the pattern rules.