After reaching the Target Zone 4 1967 – 1964, gold first went to a correction and then reversed the short-term trend down. Both the Target Zone 1914 – 1908 and the Gold Zone 1884 – 1881 were reached yesterday. After reaching the GZ, large sales were closed and prices corrected.
Today as part of the correction, the Intermediary Zone 1910 – 1907 was reached. This zone serves as the short-term downtrend’s key resistance. If sellers hold it, consider short trades with a target at yesterday’s low. If it is broken out and the price closes higher at the American trading session, then the short-term trend will again reverse up. In this case, look for gold purchases with a target in the upper Target Zone 1943 – 1937.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1910 – 1907.
TakeProfit: 1879.
StopLoss: according to the pattern rules.
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