Gold’s short-term trend reversed down: the Intermediary zone 1838 – 1837 was broken out. After the breakout, the price reached the Target zone 1823 – 1820, which was also broken in the Asian session today. The next selling target is the Gold zone 1808 – 1807.
I recommend opening new shorts during a correction from strong resistance levels. Today, strong resistance is the Additional zone 1818 – 1817 and Intermediary zone 1826 – 1824. The first target could be the day’s low, and the second target — the Gold zone.
Trading plan for XAUUSD for today:
- Sell according to the pattern from Additional Zone 1818 – 1817.
TakeProfit: 1810.
StopLoss: According to pattern rules. - Sell according to the pattern from Intermediary Zone 1826 – 1824.
TakeProfit: 1810.
StopLoss: According to pattern rules.
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