Short

Hellena | GOLD (4H): Short to support area of 1984.

Updated

Dear colleagues, I am still of the opinion that only short positions should be considered. The price has gone far up and it means that there is an opportunity to get into positions more favorably. I expect that the price may reach the resistance area of 2043.580, after which the long-awaited movement to the support area of 1984.
Perhaps the price will not update the maximum and will go straight to the target.

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

Note

I suppose that the price is starting a downward movement. Updating the maximum is still possible, but we should not forget that the main direction of the forecast is the 1984 support area. The dollar has been weakening all week, but I believe that the price will start a downward movement soon.

Note

Dear colleagues, the price has tested the resistance area of 2043.580. At the moment I expect the price to start falling, but there is one nuance. There is an assumption that the level of 2017 is wave 2. This means that the price may be in wave 3.
We will find out this fact this week. Follow the updates of the idea!

Note

After testing the resistance area of 2043.580, the price started a downward movement, but has not yet overcome the local low of 2016. This means that the price may test the resistance area again. Be careful!

Note

Dear colleagues, the price intends to test the resistance area again. By all appearances, a "Flag" pattern is being drawn. This means that we need to be careful, because often the exit from this figure can be unpredictable. Therefore, I recommend to set trades to breakeven already.

Hellena_Trade

✅ Free TELEGRAM channel: t.me/HellenaSignals
🌅 INSTAGRAM: instagram.com/hellena_trader

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.