Hellena | GOLD (4H): Long to resistance area 2619.
Updated
At the moment I believe that wave “1” has either completed or is being completed.
In the first case, I expect a corrective movement in wave “2”. Wave “2” is indicated by the 50% Fibonacci level. This is the area of 2533.
But the main direction is still upward. Therefore, the main target is the resistance area 2619.
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Trade active
As I said earlier, the price is completing wave “1”. I hope that it is already completed and the price starts correction “2”.
Last day the price did not show strong activity and it may mean that the bulls need to gain strength.
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The price is in the correction of the wave “2”. I believe that the level of 2540 will be reached, after which it is necessary to consider long positions.
Although we all know that gold can make a short correction and start moving to the target before the correction is completed. So be careful and watch the patterns.
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