Hellena | GOLD (4H): Short to support area 2540 (wave C).
Updated
Dear colleagues, I believe that it is too early to talk about long positions. I expect the price to complete a big correction and then we will look for long positions.
So far I see a variant with the completion of wave “C” in the area of 2538-2545.
Preliminary correction to the resistance area of 2645 is possible. Therefore, there are two possible options to enter a position:
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
So far I see a variant with the completion of wave “C” in the area of 2538-2545.
Preliminary correction to the resistance area of 2645 is possible. Therefore, there are two possible options to enter a position:
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
Colleagues, the price has almost reached the target!
At the moment, I do not rule out a correction, but I still believe that the target will be reached.
I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Trade closed: target reached
The goal has been reached!
Similar to the euro, I believe that wave “C” is not yet finalized. I will analyze again, and I think price will still renew the low of 2539, but now I will look for long positions.
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