Gold has reached the upper target zone 1865 – 1858. The short-term trend remains upward. If the target zone is broken out today, the next growth target will be the golden zone 1898 – 1894.
Consider new longs on corrections. The strong support levels from where long positions could be opened are the additional zone 1840 – 1838 and the intermediary zone 1822 – 1818.
Think about selling gold when the price breaks out and consolidates below the level of 1818 and the trends reverses to the downside.
Trading plan for XAUUSD for today:
- Buy according to the pattern from Additional Zone 1840 – 1838.
TakeProfit: Target zone 1865 – 1858.
StopLoss: according to pattern rules. - Buy according to the pattern from Intermediary Zone 1822 – 1818.
TakeProfit: Target zone 1865 – 1858.
StopLoss: according to pattern rules.
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