Gold traders are testing the key support of the short-term uptrend 1821 – 1817. They failed to break out the zone, so the trend continues. Look for a buy pattern today with the first target at June 16 high. The second buy target will be the upper Target Zone 1884 – 1877.
To form a buy pattern, it is necessary to consolidate the price above yesterday’s high. In this case, the “1-2-3” pattern will appear, within which it is profitable to open long trades.
To enter gold sales, it is necessary to consolidate the price in the American session below level 1817. In this case, the short-term trend will reverse down. After that, sell gold with the target in the lower Target Zone 1785 – 1778.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1821 – 1817.
StopLoss: according to the pattern rules.