Yesterday, the precious metal reached the Gold Zone 1710 – 1707. The short-term downtrend continues. If the Gold Zone is broken out downside, the next target for sales will be the Target Zone 2, 1677 – 1671.
It is profitable to consider new gold sales on correction. Zones 1720 – 1718 and 1738 – 1734 serve as strong resistance levels. After testing these levels, wait for sales confirmation in the form of a pattern. Focus on today’s low as the first target for sales.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1720 – 1718.
TakeProfit: 1702.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1738 – 1734.
TakeProfit: 1702.
StopLoss: according to the pattern rules.