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.
TakeProfit: 1788.
StopLoss: according to the pattern rules.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.
