Long

Hellena | Oil (4H): Long to resistance area (maximum of wave C).

Updated

Dear colleagues, I suppose that the upward movement is not over yet! The price is forming Multiple Zigzag. I expect the price to reach the support area at 79.00, having finished wave X, after which I expect the upward movement to continue at least to the resistance area - the maximum of wave C at 83.00.
I do not recommend entering short positions! We are looking for a good entry into a long position.

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

Note

At the moment, price has started an upward movement, but it can be deceptive. Colleagues, do not forget to set trades to breakeven or close part of positions, because there is a possibility that the price will still reach the support area or the uptrend line.

Note

The price almost reached the target, but we are seeing a correction. I will not write a new idea, because I suppose that the price will reach the target.
I assume that the price will touch the ascending trend line. I suppose that the price will give us a better chance to go long.

Note

Colleagues, price is in the forecast range and I suspect it is in the uncertainty zone. We need to watch carefully what happens at 81.68. It is about halfway to the target and a reversal is possible.

Trade closed: target reached

Well done!

Hellena_Trade

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