The Double Bottom bullish pattern formed on Friday. An entry point was provided at the opening of today’s trading session. The price is currently rising, the target being 24 May’s high. The long positions from Additional zone 1851 – 1849 can be moved to a breakeven level.
If 24 May’s high is updated in today’s trading and the price consolidates above, the next buying target will be Golden zone 1898 – 1894.
If 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:
Hold long positions according to the pattern from Additional Zone 1851 – 1849.
StopLoss: at a breakeven level.