Gold sellers are trying to break out the Target Zone 1865 – 1855. If they succeed, the short-term downtrend will continue, and the downside target will be the Gold Zone 1830 – 1827. It is relevant to enter new sell trades on the correction at the strong resistance levels, resistance (A) 1893 – 1889 and resistance (В) 1913 – 1908.
To enter a sell trade, expect the test of the above-indicated zones and detect a sell pattern. The first downside target will be the low of February 10.
It will be relevant to buy when the trend turns up via the breakout of level 1909 and consolidation above.
XAUUSD trading ideas for today:
- Sell according to the pattern at resistance (А) 1893 – 1889.
TakeProfit: 1853.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 1913 – 1908.
TakeProfit: 1853.
StopLoss: according to the pattern rules.
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