Hellena | Oil (4H): Long to resistance area of 87.47.

Dear Colleagues, at the moment the price has made a strong downward movement. I suppose that the price is in wave "4" and can continue its movement to the support area of 80.22, but I consider only long positions, because the price can make a reversal at once. I recommend to work with pending orders.
The nearest target is the resistance area at 87.47.

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

Bình luận:

Colleagues, the price has sharply started an upward movement and I expect a correction, after which the upward movement will continue.
Since the price has passed quite a large number of points, I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

Bình luận:

Dear Colleagues, in the coming week I expect a renewed upward movement towards the target of 87.47. Last week's strong movement was due to the strong news background and I think that the level of 85.55 will be tested again.

Bình luận:

Colleagues, still waiting for confirmation of the upward movement. To do this, the price needs to reach the local high of 85.55. So far there is a probability of reaching the area of 80.22. We may see a double zig-zag.

Bình luận:

Colleagues, at the end of the week the price continued its upward movement, but the level of 85.55 was not updated, which means that there is a risk of updating the low of wave “4”. In this regard, I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

Bình luận:

Colleagues, there is a great possibility of a price reversal in the coming week to give us a chance to go long again. In this regard, I recommend closing some of the open positions at the beginning of the trading week.