Yesterday, the short-term gold trend reversed up. The Intermediary Zone 1805 – 1803 was broken out. Now the target for purchases is the upper Target Zone 1826 – 1822.
Consider new purchases on correction at strong support levels. The first strong level will be the Additional Zone 1801 – 1800. Wait for the test of the zone, then look for a pattern and buy gold. Focus on Friday’s high of 1808 as the first target.
Sales will become possible if the price consolidates below the Additional Zone. In this case, it will be possible to work in correction down to the Intermediary Zone 1792 – 1790.
XAUUSD trading ideas for today:
Buy according to the pattern in Additional Zone 1801 – 1800.
StopLoss: according to the pattern rules.