Last week, gold broke out the Target Zone 1865 – 1858. The target for the current week is the Gold Zone 1898 – 1894.
Last Friday, traders corrected the price and tested the Additional Zone 1856 – 1854. The AZ serves as a strong support level. If the price can recover to this level, consider purchases with the first target at Friday’s high.
If the gold correction continues during trading and the price reaches the trend key support of 1838 – 1828, consider long trades in this zone according to the pattern.
XAUUSD trading ideas for today:
- Buy according to the pattern in Additional Zone 1856 – 1854.
TakeProfit: 1873.
StopLoss: according to the pattern rules. - Open buy positions according to the pattern in 1838 – 1828.
TakeProfit: 1873.
StopLoss: according to the pattern rules.
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