Hellena | GOLD (4H): Long to 50% Fibo lvl 2439.

Dear Colleagues, It looks like price has completed an upward five-wave momentum move and is now in an “A B C” correction.
Therefore, I expect the price to reach the area of 50% Fibonacci level 2439. I will then expect the price to decline.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Note

The price has reached the support area at 2381.885 , and I think it is a good time to look long.
It is quite possible that the price will make a new low again and that would be part of our plan. This would mean that the price allows us to enter the valley position even more favorably.

Note

The movement towards the target continued throughout the trading day and today I expect a small correction, after which I expect a resumption of the upward movement towards the target.
I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

Note

The price touched the area of 50% Fibonacci level. Just a little bit, but it happened. This may mean that the correction is complete, but the correction may be complicated, so for now I recommend to observe the price behavior.

Trade closed: target reached

I am waiting for the end of the trading week to see if price is in a difficult correction.
I expect the price to rise slightly to the area between 2400-2420. Then a continuation of the decline.

Hellena_Trade

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Hellena_Trade

✅ Free TELEGRAM channel: t.me/+3vRnN-6fQphiNDVi
🌅 INSTAGRAM: instagram.com/hellena_trader

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