Hellena | DJI (4H): Long to 100% Fibo 38516.

Dear colleagues, the waves continue their development. After the correction a b c, wave 1 in the upward movement is completed. At the moment I suppose that the price will either update the maximum of wave 1, or make a correction to the area of 50% Fibonacci level in the area of 37500 (wave 2), then I expect the price in the area of 100% Fibonacci extension level 38516.

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

Comment:

I suppose that the correction to the area of 50% Fibonacci level has started. From now on we should be careful. I consider only long positions.

Comment:

The price has demonstrated an upward sentiment. But it has not yet updated the local maximum of 38107. This means that a deeper correction is still possible. I expect the local high to be updated, after which I expect the upward movement to continue.

Comment:

In the coming week it is possible to continue the upward movement to the target 38516. I recommend to move trades to breakeven, because if the price suddenly goes to a deep correction - you will have the opportunity to enter a long position at a favorable price.

Comment:

The price has confidently updated the local high and I expect the target to be reached. Don't forget to put trades to breakeven.

Trade closed: target reached:

Well done!