On Thursday, March 3, the short-term gold uptrend continues. Key support 1917 – 1913 was tested yesterday. The zone was held. A buyers’ reaction also occurred, but there is no buy pattern yet. To form a pattern, traders need to update yesterday’s low and return to the trend’s key support. In this case, it would be reasonable to open long trades, with the target at March 1 high.
To enter gold sales, it is required to break out the Intermediary Zone and consolidate the price at the American session below level 1913. In this case, it will be profitable to sell the precious metal. The sales target will be the Target Zone 1884 – 1877.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1917 – 1913.
StopLoss: according to the pattern rules.