Hellena | GOLD (4H): Short to 38.2% Fibo lvl 2100.

Dear Colleagues, Recent events have affected the price and gold was breaking records, but I was waiting for an opportunity to profit from the correction. I still suppose we can do it, because I saw a big wave 1, which means I expect a big correction to the 38.2% Fibonacci 2100 level area.
Before this move, a high update to the 2175 resistance area is possible.

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

Comment:

Dear Colleagues, I still expect the price to test the 2175-2180 resistance area, after which I expect a decline in the wave 2 correction. But in any case, all my thoughts are on short positions.

Comment:

Dear Colleagues, price is testing the resistance area of 2175, but in the coming week I assume that price may update the high of wave 1. I do not suppose that a new high will mean that the forecast will be canceled. I am still optimistic that the price will start a corrective movement in wave 2.

Comment:

Dear colleagues, as I expected, the price is testing the resistance area. It is possible that the price will reach the level of 2200 by updating the wave. But I still believe that the price will go for correction to the 2100 area.

Comment:

The situation in the markets is quite complicated, but my opinion has not changed. I suppose that the price is going for correction, but probably up to 2120-2130 at least. At these levels I will close some positions and set trades to breakeven.
Perhaps at the beginning of the week the price will rise a little before the correction continues.

Comment:

Dear Colleagues, the price is slowly descending towards the target. I expect that the price will go more active and will update the local low of 2146.
At this point I recommend to set trades to breakeven!