Gold traders are again trying to break out the short-term uptrend’s key support of 1821 – 1817. Yesterday, the zone was held, so today, focus on purchases according to the pattern with the first target around June 16 high. To form a pattern, traders need to break out yesterday’s high and consolidate the price higher. In this case, a “double bottom” buy pattern will be formed.
If, during today’s trading, the Intermediary Zone is broken out downside and the price closes lower in the American trading session, the short-term trend will reverse down. In this case, from tomorrow, consider gold sales with the target in the lower Target Zone 1785 – 1778.
XAUUSD trading ideas for today:
Buy according to the pattern in Intermediary Zone 1821 – 1817.
StopLoss: according to the pattern rules.