The short-term gold downtrend continued yesterday. As a result, the local low was updated. The Gold Zone 1890 – 1886 was tested again but unsuccessfully. The price at the American trading session closed within the support.
The market opened lower today. Sellers are trying to consolidate the price below the Gold Zone. If they succeed, the next sales target will be Target Zone 2 1854 – 1847.
It is profitable to consider new gold sales on correction at strong resistance levels, the Additional Zone 1891 – 1890 and the Intermediary Zone 1911 – 1908.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1891 – 1890.
TakeProfit: 1873.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1911 – 1908.
TakeProfit: 1873.
StopLoss: according to the pattern rules.
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