Hellena | GOLD (4H): Short to 100% Fibo 1966.

Jan 18, 2024

Dear Colleagues, the price showed a strong momentum of downward movement. I have redrawn the waves and I suppose that the price will continue to decline. The downside target is the area of the 100% Fibonacci extension level of 1966. Either the price will continue to update the minimum of wave 1, or there will be a correction in wave 2 and then the formation of wave 3 will begin.

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

Jan 19, 2024

Note

Dear colleagues, the price has reached the resistance area of 2024. I think that wave 2 is either over or will update the maximum a little more. From now on, I consider only short positions.

Jan 21, 2024

Note

Dear colleagues, the price has reached the resistance area of 2024 and even a bit higher. From now on, I consider only short positions with the aim to reach the target of 1966. I remind you that this movement is a downward wave 3.

Jan 23, 2024

Note

Price again tried to renew the high of wave 2, but stopped at the level of 2037. This gave us a new opportunity to go short. So I still expect a downward movement and the formation of wave 3, which will reach our target.

Jan 25, 2024

Note

You need to watch the price movement closely today. If the local high of 2036.850 is updated, I suppose the scenario should be canceled.

Jan 28, 2024

Note

The price is moving in one range and it won't be long before it moves out of it. I still suppose that the price will go to the lower target in the area of 1966. But I strongly recommend to take the trade to breakeven. The situation is not stable.