MarkMarkets

Consolidated upward trading range

Long
FOREXCOM:HGOUSD   None
We see a consolidated upward trading range because the ADX is over 25 (this indicates a presence of a trend) and drawing the Elliot's wave we can see that the price is in the third wave of an impulsive pattern. At what price this raise can stop? Maybe at a price around 3.200, this is a moderate resistance seen in the previous max.
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