Long

Hellena | Oil (4H): Long to resistance area of 76.08.

Updated

Dear Colleagues. I hope you listened to my advice and took a great profit from the last forecast. And now I am considering the continuation of the upward movement. I suppose that the price will reach at least the resistance area of 76.08. Before this movement it is possible to form a corrective wave 2 in the area of 50%-61.8% Fibonacci levels of 71.66.

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

Note

The price tested the support area at 71.66 and started an upward movement. From this moment I consider only long positions.

Note

Dear colleagues, I suppose that in the coming week the price will continue its upward movement, but a correction to the area of 72.50 is possible, which will be a good opportunity to go long once again!

Note

The price updated the low and went lower than I expected (70.11). But I see this movement as an opportunity to go long again at a more favorable price! Now the price is in the range of long position set.

Note

Dear Colleagues, as I expected the price gave us a bargain. Now the price is around 72.00. I suppose that it is necessary to put the deal to breakeven and keep long positions with the aim to reach the target of at least 75.00.

Note

Dear colleagues, all those who did not have time to take profit will be able to do so. In the coming week, I assume that the price will go into correction, then continue the upward movement! Correction is possible up to the area of 71.00. I assume that it will be appropriate to place limit orders in this area.

Note

dear colleagues. I realize that the price has been in the range of my forecast for two weeks now. But there is a silver lining. It means that it was possible to enter the trade several times. At the moment on Friday, I see that price is showing good upside momentum again and is at the 74 level.
I will update the forecast again this weekend, but for now I am watching price.

Note

Dear Colleagues, we are in a trade for quite a long time, but I suppose that price will continue its upward movement in the coming week. It is quite possible that the correction to the level of 72.00 will give a chance to enter the trade to those who did not manage to do it earlier. then I expect a confident upward movement to the target of 76.00.

Trade closed: target reached

Werll done!
Dear colleagues, the price has almost touched the resistance area and our target. Since the trade has been active for more than three weeks, I suppose it is reasonable to close the trade with an excellent profit!

Hellena_Trade

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

Also on:

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.