The gold price is trading in the resistance zone 1769 – 1750, where one could enter short trades in the short-term downtrend. When there is a sell pattern, one should open a short position with a target at the low of November 23. The major downside target is the lower Target Zone 1701 – 1692.
The trend will turn up, and it will be relevant to buy if the price breaks out level 1769 upside. The buy target will be the upper Target Zone 1816 – 1807.
XAUUSD trading ideas for today:
Sell according to the pattern in the zone of 1769 – 1750.
StopLoss: according to the pattern rules.