Gold is trading in a short-term uptrend. The growth target is to update October 26 high. At the moment, traders are testing the Additional Zone 1660 – 1659 and trying to break it out downside.
If the sellers manage to break out the Additional Zone, the correction will continue with the target in the Intermediary Zone 1646 – 1643. The IZ serves as the trend key support. If it is reached by price, consider purchases according to the pattern with the target at October 26 high.
To enter gold sales, traders need to break out the Intermediary Zone and close the price lower in the American trading session.
XAUUSD trading ideas for today:
- Buy according to the pattern in Additional Zone 1660 – 1659.
TakeProfit: 1675.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 1646 – 1643.
TakeProfit: 1675.
StopLoss: according to the pattern rules.