Gold is trading in the short-term uptrend. The upside target is the Target Zone 3, 1793 – 1787. The market is being corrected down to the Additional Zone 1772 – 1770. The AZ is a strong support zone, where one could enter new purchases according to the pattern with a target at yesterday’s high.
If the AZ is broken out downside, the correction will continue down to the Intermediary Zone 1757 – 1755. After the IZ is tested, I suggest entering purchases with a target at yesterday’s high.
XAUUSD trading ideas for today:
- Buy according to the pattern in Additional Zone 1772 – 1770.
TakeProfit: 1785.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 1757 – 1755.
TakeProfit: 1785.
StopLoss: according to the pattern rules.
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