Hellena | GOLD (4H): Short to 100% Fibo lvl 2252.844.
Updated
Dear Colleagues, the news had a big impact on the price last week. I think that everyone felt these changes. My last trade went to breakeven, although it was very close to the target.
Now I believe that wave 4 is still not complete. This means that I expect further price decline to the area of 100% Fibonacci extension level at 2252.844. Of course, I expect a slight correction.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Now I believe that wave 4 is still not complete. This means that I expect further price decline to the area of 100% Fibonacci extension level at 2252.844. Of course, I expect a slight correction.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Note
Colleagues, the price is in the resistance area. I expect the decline to the target (wave “4”) to start very soon. Of course, it is still possible to update the local maximum and then the price will give us another opportunity to go short.
Note
Still before the end of the week I expect the beginning of the downward movement and the completion of wave “C”.Note
Dear colleagues, in spite of the fact that the price updated the high a bit further than I expected - the forecast is still valid and I believe that the price will continue its downward movement to the target!Note
Dear Colleagues, the price has tested the resistance area twice, so I believe that next week the price will continue the downward movement to the target 2252.Note
Despite the fact that the price still has not updated the low of 2296, I believe that the probability of such an outcome is still very high. Now is a good time to look at short positions.Note
Colleagues, price is updating the high and is now around the 50% Fibonacci level from the big wave. This means that the downward movement to the targets may start from here. In any case, if the price updates the high strongly, we will have to cancel the forecast.
Note
As expected - the price is making a correction. I believe that the upward movement to the target will start again soon
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