The short-term gold downtrend continues. The target for sales is the Target Zone 2, 1677 – 1671. Yesterday, a correction occurred, within which the price entered the zone of favorable sell prices 1724 – 1707.
Today consider gold sales according to the pattern in the zone of 1724 – 1707. Focus on yesterday’s low as the first target.
A trend reversal by breaking out the Intermediary Zone 1724 – 1721 is required for entering purchases. In this case, the trend will reverse up, and the upper Target Zone 1760 – 1753 will become the target for purchases.
XAUUSD trading ideas for today:
Sell according to the pattern in the zone of 1724 – 1707.
StopLoss: according to the pattern rules.