The gold is trading in a short-term uptrend. A correction is currently unfolding. As part of the correction, traders are ready to test the Intermediary Zone 1821 – 1817, which serves as the border of a short-term uptrend. So while the price is trading higher, look for long trades with the first target at June 16 high. The second target for purchases is the upper Target Zone 1884 – 1877.
To enter sales and reverse the trend, traders need to break out level 1817 and consolidate the price below at the American session. In this case, the short-term trend will reverse down, and the target for sales will be the lower Target Zone 1785 – 1778.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1821 – 1817.
StopLoss: according to the pattern rules.