The short-term gold trend reversed up yesterday. The Intermediary Zone 1929 – 1926 was broken out. Now the price is correcting and trying to reach the Additional Zone 1931 – 1930. If the AZ is held, then the growth will continue. The first growth target will be yesterday’s high. The second target will be the upper Target Zone 1969 – 1962.
If the Additional Zone is broken out downside, then the correction will continue in the Intermediary Zone 1913 – 1910. The IZ serves as the border of the trend. After reaching it, I recommend looking for purchases according to the pattern with the first target at yesterday’s high.
XAUUSD trading ideas for today:
- Buy according to the pattern in Additional Zone 1931 – 1930.
TakeProfit: 1949.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 1913 – 1910.
TakeProfit: 1949.
StopLoss: according to the pattern rules.
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