Hellena | GOLD (4H): SHORT to support area of 4040.

Gold is actively rising and I believe that before the impulse ends we should see the correction that many are expecting.
As of today, I see the completion of the higher order wave “3” and the approaching start of the correction in wave “4”. It makes no sense to put any distant plans in the correction and I think that the support area of 4040 looks quite attractive.

Fundamental context
Gold continues its rally and recently broke new highs, fueled by expectations of U.S. rate cuts, global uncertainty, and safe-haven demand. Central banks are still actively increasing their gold reserves — this structural demand adds support even if price pullbacks occur.
Supply growth is modest — mining output is constrained, and recycling of gold is not enough, which limits the downward pressure on prices.
Given this backdrop, the chance of a correction rises as momentum stretches — but the underlying fundamentals remain favorable for further upside once the correction completes.

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

注释

The impulse continued - the forecast failed to materialize. I hate corrections)

交易开始

I had no doubts that wave “3” has updated its maximum. Wave “4” still reached the support area and the forecast worked out its target level!