After the short-term trend reversal up, the gold price is rising without stopping. Yesterday the Target Zone 1793 – 1789 was reached. Today the price is approaching the Gold Zone 1810 – 1808. If the GZ is broken out and the price consolidates higher, the next target for purchases will be Target Zone 2 1831 – 1827.
Look for purchases on correction at strong support levels. Additional Zone 1797 – 1796 and Intermediary Zone 1787 – 1785 are strong supports today. Wait for the test of these zones, look for a pattern and open a long trade according to the pattern. Focus on the day’s high as the first target.
XAUUSD trading ideas for today:
- Buy according to the pattern in Additional Zone 1797 – 1796.
- TakeProfit: 1805.
- StopLoss: according to the pattern rules.
- Buy according to the pattern in Intermediary Zone 1787 – 1785.
- TakeProfit: 1805.
- StopLoss: according to the pattern rules.
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