Hellena | GOLD (4H): Long to resistance area of 2711.
Dear colleagues, the price continues its upward movement and it means that wave “C” is definitely formed.
I believe that the price is forming a five-wave movement and we have 2 options for the development of events
1) Wave “1” is not formed yet and will continue the upward movement - this is a more risky entry into a long position.
2) Wave “1” is formed and I expect a correction in wave “2” to the area of 38.2-50% Fibo lvl (2605.5) and then an upward movement to the resistance area 2711.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
I believe that the price is forming a five-wave movement and we have 2 options for the development of events
1) Wave “1” is not formed yet and will continue the upward movement - this is a more risky entry into a long position.
2) Wave “1” is formed and I expect a correction in wave “2” to the area of 38.2-50% Fibo lvl (2605.5) and then an upward movement to the resistance area 2711.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Note
Well... Wave “1” keeps updating the maximum, and I'm not getting the correction I want).
Still, I believe that the correction in wave 2 should start today.
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