Hellena | GOLD (4H): Short to 100% Fibo 1972.810.

Dear colleagues, the price made a strong impulse downward and reached the level of 1989. I assume that this is not the end of the move and the price will reach the area of 100% Fibonacci extension level 1972.810. I suppose that this movement is a corrective movement in three waves. After reaching the target, I will redraw the waves.

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

Comment:

The price is still at the same level as yesterday. I am still leaning towards price making an upward move to the 2014 area and giving an opportunity to profitably enter short positions. Stay tuned for updates.

Comment:

The price is near the resistance area of 2014. This means that from now on I consider only short positions! At the end of the trading week it is dangerous to enter the market, but limit orders should be placed.

Comment:

Dear colleagues, the price has tested the resistance area 2014.966. In the coming week, I expect the price to start a downward movement to the target of 1972.810, before this movement it is possible to update the high in the area of 2020.

Comment:

Price tested the 2015 area and updated the high. I think that now only short positions should be considered! The update of the local high at 2022.800 may question this forecast, but sometimes price needs to gain strength before moving.