The previous week’s gold low was updated. The price unsuccessfully tried to reach the Target Zone 1782 – 1775. As a result, the price corrected and reached the trend key resistance of 1826 – 1822. This resistance has not been broken out, so today, it is profitable to look for sales according to the pattern. The sales targets will be yesterday’s low and a Target Zone 1782 – 1775.
However, if during the trading session the price breaks out level 1826 and consolidates above, then the short-term trend will reverse up. In this case, it will be possible to consider long trades with the target in the upper Target Zone 1865 – 1858.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1826 – 1822.
StopLoss: according to the pattern rules.