Gold price has shifted to a bearish trend on the 4-hour timeframe after completing an Elliott Impulse Wave 12345 & ascending trendline breakout and is now following an Elliott Correction ABC. Entry for selling is recommended after the correction reaches 50% to 61% retracement, confirmed by bearish price action signals.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.