Hellena | GOLD (4H): Short to 50% Fibo lvl 2443 (Wave "2").
Updated
Dear colleagues, I assume that the correction of wave “2” is still to come. This means that the price may update the nearest maximum and reach the area of 2520, which will mean the completion of the impulse in wave “1”.
Then I expect the beginning of the downward movement in the area of 50% Fibonacci level to the area of 2443.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Then I expect the beginning of the downward movement in the area of 50% Fibonacci level to the area of 2443.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
I believe that the price will renew the high and get a little closer to the 2520 level, after which I will consider short positions.
In any case, I believe that wave “3” will end soon and I expect a correction.
Trade active
Colleagues, despite the fact that the price can still update the high of 2531, I still think that we should catch the move down to our targets.
We can go short riskily on the market, or more conservatively with pending orders that are in the resistance area.
Trade active
Colleagues, price is moving flat and one thing is clear so far - the bulls are losing their strength.
The liquidity zone is below, where the wave “2” is. Therefore, I expect a slight rise in price, but then the bears will take their positions!
Trade active
The price showed a good downward movement and reached 2471. I believe that an upward correction is still possible, but I will still consider short positions, because even if the 2530 area is reached again, it will mean that the price is giving us a chance for a good short entry again.Trade active
Colleagues, as I wrote earlier - the price may return to the area of 2530 again. Because this level is difficult to overcome.
This week I expect that the price will start a more confident downward movement with the renewal of the local minimum of 2471.
Trade active
Colleagues, we are observing the area of the 2531 level, which the price is trying to overcome. I can assume that we are in a kind of flat. I expect the exit from it exactly downwards in the direction of the target 2443. But very often there can be a false breakout in a flat. Therefore, I do not exclude the possibility of a small breakdown of the level 2531. Trade active
According to my observations the price is consolidating in flat and I expect a false breakdown of 2529.340 area to then enter the corrective movement.
It is the end of the month and it means that we should not expect strong changes until the end of the week.
Trade active
This week I expect a false flat breakout at the 2529 level. Then I plan to decline to the area of 2443. It is possible that we will have to move take profit Trade active
Dear colleagues, I believe that wave 2 is a bit delayed as it consists of a complex correction.
Now the price is seeking to update the level of 2471. I believe that after that the price will reach the target of 2443. After reaching 2471 I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Trade active
Colleagues, I realize that the price keeps making us nervous and going back to the 2531 level, but it does not mean that wave “2” will not be realized. I am still counting on a short position into the 24443 area. I will probably make a new forecast soon, because this one is already very time-consuming.Trade active
Colleagues, the forecast has been in the active stage for quite a long time, but still I hope that the price will reach the target area, because the complex correction should be over and I expect the completion of wave “2”.
This week I expect the local low of 2472.708 to be updated and the downward movement to continue.
Trade active
Dear colleagues, I continue to insist on the price decline and the completion of the complex wave “2”.
I decided to show you how I see the changes in wave drawing on the chart at the moment.
I see a complex correction “WXY” with the completion of wave “2”.
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