The short-term gold trend reversed up. Yesterday, the price closed above the Intermediary Zone 1934 – 1931 at the American trading session. Today, it is profitable to look for gold purchases with the first target around 1949 high and the second target in the upper Target Zone 1974 – 1967.
At the moment, traders are testing the Additional Zone 1931 – 1930 which serves as a strong support. I recommend looking for purchases in the AZ according to the pattern with the targets outlined above.
If the AZ is broken out during trading, the correction will continue with the target in the Intermediary Zone 1913 – 1910. After reaching the IZ, start looking for purchases.
XAUUSD trading ideas for today:
- Buy according to the pattern in Additional Zone 1931 – 1930.
TakeProfit: 1949, Target Zone 1974 – 1967.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 1913 – 1910.
TakeProfit: 1949, Target Zone 1974 – 1967.
StopLoss: according to the pattern rules.
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