The short-term gold trend is down. XAU has reached the zone of good sell prices 1870 – 1858, where the gold price is currently trading.
A reversal pattern is required to enter sales. In this case, the target for sales will be November 16 low and the Target Zone 1839 – 1835.
To enter purchases, the breakout of level 1870 and price consolidation above are required. The target for purchases will be the upper Target Zone 1890 – 1887.
XAUUSD trading ideas for today:
Sell according to the pattern in the zone of 1870 – 1856.
TakeProfit: 1850, Target Zone 1839 – 1836.
StopLoss: according to the pattern rules.