The short-term gold trend reversed down yesterday. The Intermediary Zone 1962 – 1958 was broken out. Now the target for sales is the lower Target Zone 1926 – 1919. Consider gold sales on correction at strong resistance levels, the Additional Zone 1959 – 1957 and the Intermediary Zone 1979 – 1975. The latter serves as a trend border.
Consider gold purchases after level 1959 breakout and price consolidation higher. In this case, purchases will be carried out within correction, and the Intermediary Zone will become the target.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1959 – 1957.
TakeProfit: 1940, Target Zone 1926 – 1919.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1979 – 1975.
TakeProfit: 1940, Target Zone 1926 – 1919.
StopLoss: according to the pattern rules.