Hi
In this situation, we are in abc correction with flat structure. The impulse bearish wave predicted by Elliot wave analysis. In this situation, sell gold to 1880 and then wait to see powerful impulse to raise above 2000.
Have good trade
Highlighted orange box is where i anticipate PA to gravitate too ,
Confluence with 30/50 EMA* Fib Pull 618 * Volume Profile Match ..
Strong support and i expect a bounce from this region on chart .
Ensure to use a sl and know your invalidation
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STMicroelectronics NV (STM - Italy) is moving down in ABC flat pattern. In Daily it has completed some impulse sequence on the top shown in this chart. B wave was complex wxy correction, which was over. Price made 1st wave and 2nd wave correction is under progress. Wave 3rd down of C will now start anytime soon. Italy IT40 index is weaker in europe in last 2 days movement.
