On Friday, gold worked out the Additional Zone 1956 – 1954 and reached the Target Zone 1926 – 1919. Traders need to consolidate the price below level 1919 at the American trading session for a further fall. In this case, the target for sales will be the Gold Zone 1890 – 1886.
If traders fail to consolidate the price below the TZ, a correction will begin. Its first target will be a test of the new Additional Zone 1932 – 1931. If the AZ is broken out upside, the correction will continue with a target in the Intermediary Zone 1952 – 1949.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1932 – 1931.
TakeProfit: 1914.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1952 – 1949.
TakeProfit: 1914.
StopLoss: according to the pattern rules.
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