Gold continues trending up in the short term. After a failure to break out Target Zone 1865 – 1858, the price corrected to the area of Additional Zone 1850 – 1849. Buyers managed to hold the Additional Zone. Today, we are looking for a pattern to buy with a target at 24 May’s maximum.
If 24 May’s maximum is updated, we’ll have a big chance to consolidated above Target Zone. The next growth target will then be the Gold Zone 1898 – 1894.
If the Additional Zone is broken to the downside, the correction will continue with a target in Intermediary Zone 1833 – 1830.
Trading plan for XAUUSD for today:
- Buy according to the pattern from Additional Zone 1851 – 1849.
TakeProfit: 1869.
StopLoss: according to pattern rules. - Buy according to the pattern from Intermediary Zone 1833 – 1830.
TakeProfit: 1869.
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.
