In the gold market, the sellers’ reaction to the test of the trend key resistance of 2007-2003 occurred. As a result, the price decreased and updated yesterday’s local low of the American trading session. There is no pattern to sell gold at the moment, so wait for further developments.
A false breakout of yesterday’s high and a price return under the resistance of 2003 would be a good option for entering short trades. In this case, it will be possible to enter sales with a target at March 10 low.
To enter purchases, traders need to reverse the trend by consolidating the price above level 2006.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 2006 – 2003.
StopLoss: according to the pattern rules.