Last Friday, the short-term gold trend reversed down. Now the price is correcting and approaching the trend border 1801 – 1799. After testing the trend border, look for a sell pattern and start selling the precious metal in order to update Friday’s low and reach the lower Target Zone 1778 – 1774.
An alternative scenario suggests a breakout of level 1801 and the price consolidation higher. In this case, the short-term trend will reverse up. So, it will be profitable to search for purchases with a target in the upper Target Zone 1821 – 1817.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1801 – 1799.
TakeProfit: 1780.
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.
