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Hellena_Trade
Mar 29, 2024 6:35 AM

Hellena | GOLD (4H): Short to support area of 2153.085.  Short

GoldOANDA

Description

Dear Colleagues, I assume that the price is in the ending diagonal. This means that the price will update the maximum a little more, after which I expect the price to decline to the support area of 2153.085.
I expect the 5 wave structure to complete the formation.
Watch for updates of the idea, the price may start moving towards the target, so I do not recommend to consider long positions.

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

Comment

Colleagues, in the coming week I expect the price to start wave 4, after its completion we will make further decisions.

Comment

Colleagues, I suppose that the price has completed wave 3. At the moment I expect wave 4 with a target of 2210. Because wave 3 went a bit further than I expected, it may mean that wave 5 will be higher. Be careful!
Comments
JoeChampion
link 5 and 1, that should be a decent resistance line to spot a potential reversal of gold, but in case of a breakout then gold should fly like damn
Hellena_Trade
@JoeChampion, Yes. Gold has been behaving unpredictably lately. The main thing is to manage risks. Thank you for the comment!
vatanchi
Extraordinary! 🌈
Hellena_Trade
Your input is highly valued. Please share your views on this chart analysis, as it can enrich our understanding of the market.
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