Gold is trading under pressure from major sellers. The short-term downtrend continues. Yesterday, traders broke out the Target Zone 2 1938 – 1931. Therefore, the next target for sales is the Gold Zone 2 1905 – 1902.
Yesterday, there was a XAU correction in the Additional Zone 1926 – 1925. The AZ was held, so today it remains the strongest resistance. In case of the AZ retest, look for a sell pattern. When it appears, enter gold sales with the first target at yesterday’s low.
The trend key resistance is shifting to the zone of 1946 – 1943.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1926 – 1925.
TakeProfit: 1907, Gold Zone 2 1905 – 1902.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1946 – 1943.
TakeProfit: 1907, Gold Zone 2 1905 – 1902.
StopLoss: according to the pattern rules.
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