The short-term gold trend reversed down. As a result, the lower Target Zone 1894 – 1886 was reached. After testing the TZ, the price corrected and reached the Intermediary Zone 1929 – 1926.
The Intermediary Zone serves as the border of a short-term downtrend. Today it would be profitable to look for sales in the beforementioned IZ. The sales target will be to update yesterday’s low.
To enter gold purchases, it is required to break out level 1929 and consolidate the price at the American session higher.
XAUUSD trading ideas for today:
Sell according to the pattern in Intermediary Zone 1929 – 1926.
StopLoss: according to the pattern rules.
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