The gold price is trading in a correction to a short-term downtrend. Yesterday, the Additional Zone 1911 – 1909 was tested. This caused a slight price drop. However, the price has not yet reached the main target for sales, the April 25 low. In this regard, continue selling the precious metal today.
If the Additional Zone is broken out upside and the price consolidates higher, then the correction will continue with the target in the Intermediary Zone 1931 – 1927. After the IZ test, look for sales according to the pattern, with the target at April 25 low.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1911 – 1909.
TakeProfit: 1892.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1931 – 1927.
TakeProfit: 1892.
StopLoss: according to the pattern rules.
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