Gold continues trading in the short-term downtrend. The price broke out the Gold Zone 1830 – 1827. The next downside target will be Target Zone 1796 — 1789.
I recommend entering new sell trades in resistance (A) zone 1858 – 1854 according to the pattern with a target at yesterday’s low. If resistance (A) is broken out, the correction will continue up to resistance (B) 1878 – 1872, where one could also enter sell trades.
If yesterday’s low is broken through, the resistance zones should be rearranged.
XAUUSD trading ideas for today:
- Sell according to the pattern at resistance (А) 1858 – 1854.
TakeProfit: 1818.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 1878 – 1872.
TakeProfit: 1818.
StopLoss: according to the pattern rules.
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