The gold price continues declining in the short-term downtrend. The price is due to break out the Target Zone 1956 – 1943. If the price consolidates below the TZ, the downside target will be the Gold Zone 1916 — 1912.
It is relevant to enter new shorts on the correction to resistance (A) 1978 – 1974 or resistance (В) 2001 – 1995. Before you enter a sell trade, expect the test of a resistance zone and a sell pattern. The first downside target is today’s low.
XAUUSD trading ideas for today:
- Sell according to the pattern at resistance (А) 1978 – 1974.
TakeProfit: 1932.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 2001 – 1995.
TakeProfit: 1932.
StopLoss: according to the pattern rules.
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