Yesterday, the gold price corrected and reached support (A) 1757 – 1755. The buyers held this support zone, so today, consider long trades at current prices (1765), with a target at November 15 high. If November 15 high is updated, the price will reach the Target Zone 3, 1793 – 1787.
When support (A) is broken out, the price will continue to correct down to support (B) 1743 – 1739. Support (B) serves as the trend border. After the price reaches the trend border, consider purchases with the target at November 15 high.
XAUUSD trading ideas for today:
- Buy/hold buy trades entered in support (A) 1757 – 1755.
- Buy according to the pattern in support (B) 1743 – 1739.
StopLoss: according to the pattern rules.