As part of the short-term gold downtrend, the Target Zone 1778 – 1774 was broken out. The next target for sales is the Gold Zone 1759 – 1757.
Today the price is correcting and approaching the trend key resistance 1782 – 1780. After reaching the key resistance, it will be profitable to look for gold sales according to the pattern with the first target at yesterday’s low.
An alternative buy scenario suggests a breakout of the Intermediary Zone and the price consolidation higher. In this case, the trend will reverse up, and the target for purchases will be the upper Target Zone 1803 – 1799.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1782 – 1780.
TakeProfit: Gold Zone 1759 – 1757.
StopLoss: according to the pattern rules.
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