Last week, the short-term gold downtrend continued, as a result, an August 22 low was updated. Now traders are trying to consolidate the price below the abovementioned low. If successful, the next target for sales will be the Gold Zone 1710 – 1707.
It is profitable to consider new gold sales on correction at strong resistance levels, an Additional Zone 1739 – 1737 and an Intermediary Zone 1756 – 1753. To enter sales, wait for a test of the abovementioned zones and look for a reversal pattern. Focus on today’s low as the first target for sales.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1739 – 1737.
TakeProfit: 1721.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1756 – 1753.
TakeProfit: 1721.
StopLoss: according to the pattern rules.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.
