Gold is trading in the short-term downtrend. The price hasn’t broken out the Gold Zone 1830 – 1827, so the price is being corrected. A possible correction target is resistance (A) 1859 – 1855. When resistance (A) is reached by the price, it will be relevant to enter new sell trades with a target at the low of February 17.
If the price breaks out resistance (A), the price will go up to resistance (B) 1879 – 1874. This is the trend border, where one also can enter sell trades.
XAUUSD trading ideas for today:
- Sell according to the pattern at resistance (А) 1859 – 1855.
TakeProfit: 1819.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 1879 – 1874.
TakeProfit: 1819.
StopLoss: according to the pattern rules.