Hellena | GOLD (4H): Long to resistance area 2404.446.

Dear colleagues, the markup turned out to be rather unusual, but I still assume that the price is headed for a correction in wave “4” (2328.823). This may mean that the price will soon start an upward movement at least to the area of the nearest resistance at 2404.446.
After confirmation of this movement we will consider options for further upward movement.

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

Comment:

The price has confidently reached the support area. Well, so now we need to find a good point for long positions.
But we should not forget that the low of 2325.99 can be updated, because the area implies the approximate place of price reversal.
In any case, I assume that the correction will take place and the price will reach the target!

Comment:

Colleagues, the price has reached the support area and now I am looking for a favorable point for long positions. I assume that the price may slightly renew the low of 2325.99. In any case, all my thoughts are on long positions now. I expect upward movement in the coming week.

Comment:

Dear Colleagues, I believe that price continues its upward movement towards the target. When reaching the 2374 area, I will recommend that trades should be set trades to breakeven.

Comment:

Price continues its upward movement and I expect the 2374 level to be reached.

Comment:

Colleagues, Price is testing the support area of 2329 again. Well, I hope that the low will not be updated, because it could mean that there is a complex correction in progress and the price will go much lower. Let's keep watching.

Comment:

Price continues to resist, the bullish movement has slowed. But the support area has already been worked out twice and I believe that the movement to the target will resume!

Comment:

Price is testing the support area again. In the coming week I expect resumption of growth to the target.

Comment:

At this point, we have to watch to see if the price will update the low or high. In this period of time the probability is the same.
I am still hoping for an update of the 2364 level because the price is within the forecast and it is too early to cancel it.

Comment:

Dear colleagues! Great news! The level of 2364 was broken, which means that the price is quite capable of reaching the level of 2390 at least.
At this point, I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

Comment:

Dear colleagues, I believe we got a strong confirmation that the price will reach the target! Perhaps there will be another small correction to the 2360 area and then we will have another opportunity to go long.