As part of an upward correction in a short-term downtrend, the gold reached the Intermediary Zone 1763 – 1760. The IZ serves as the trend’s border. There, I recommend looking for a pattern to enter sales with a target at August 22 low.
To enter purchases, a trend reversal is needed by breaking out the Intermediary Zone and closing the price at the American trading session above level 1763. In this case, the short-term trend will reverse up and the upper Target Zone 1799 – 1792 will become the target for purchases.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1763 – 1760.
TakeProfit: 1728.
StopLoss: according to the pattern rules.
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