Gold updated August 22 low as part of a short-term downtrend. After that, the price corrected in the Additional Zone 1738 – 1736. The AZ was held, so today, it is possible to search for sales there according to the pattern with the target at August 29 low.
If, during the trading, the Additional Zone is broken out upside and yesterday’s high is updated, the correction will continue in the Intermediary Zone 1756 – 1752. Also, consider sales according to the pattern in IZ, which serves as the border of a short-term downtrend.
XAUUSD trading ideas for today:
- Sell according to the pattern in Additional Zone 1738 – 1736.
TakeProfit: 1720.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 1756 – 1752.
TakeProfit: 1720.
StopLoss: according to the pattern rules.
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