Hellena | GOLD (4H): LONG to 4700 resistance area.

Judging by the structure of wave "2", we are dealing with an "abc" correction, and wave "c" seems to be coming to an end now.

I believe it may finish around the 4388 area, but I am mainly watching for long positions. I also see a possible scenario where the price starts moving toward the upper levels right away.

My target is the 4700 resistance area — a fairly strong level, which I consider the minimum area the price should reach.

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Anmerkung

Gold is currently showing low volatility, but I expect the price to break out of the 4455–4589 range this coming week, which will clarify whether:
1) a correction will occur
2) the upward trend will continue toward the target.

Trade ist aktiv

The price is still moving within a local consolidation, but the main bullish scenario remains valid for me.

After the reaction from the 4388 support area, Gold did not start an impulsive move immediately. Instead, the market is building a sideways structure, which may simply be a pause before the next upward attempt.

I still consider the 4700 resistance area as the main target. As long as the price holds above the 4388 support area, I continue to watch mainly for long positions.

Hellena_Trade

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Hellena_Trade

✅ Free TELEGRAM channel: t.me/HellenaSignals
🌅 INSTAGRAM: instagram.com/hellena_trader
🟢 Contact: t.me/Hellena_FX

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