Yesterday, within a short-term downtrend, gold reached the lower Target Zone 1807 – 1799. After this, a correction occurred. Now the price is approaching the Additional Zone 1824 – 1823. I assume that the AZ will be tested during the European trading session. After that, look for new sales according to the pattern with a target at yesterday’s low.
If, during the trading, the Additional Zone is broken out upside, the correction will continue with the target in the Intermediary Zone 1844 – 1841. The IZ serves as the border of a short-term downtrend. After reaching it, also look for sales.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1824 – 1823.
TakeProfit: 1805.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1844 – 1841.
TakeProfit: 1805.
StopLoss: according to the pattern rules.
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