Gold has corrected in the zone of the short-term downtrend’s key resistance 1805 – 1803. Resistance is still holding, so look for short trades with a target at the December 21 low. A reversal pattern is required to open trades, for example, a “false breakout”. The second target for sales is the lower Target Zone 1776 – 1773.
Traders need to consolidate the price above level 1805 at the US trading session to enter gold purchases. In this case, the short-term trend will reverse up. Therefore, consider purchases with a target in the upper Target Zone 1868 – 1822.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1805 – 1803.
StopLoss: according to the pattern rules.