Hellena | Oil (4H): SHORT to the area of 68.926 (Wave C).
Colleagues, price has worked the downward movement perfectly, but I believe the downward movement is not over yet.
Wave “C” is a five-wave wave and now the price is in the correction of wave “4”.
I expect the price to reach the downtrend line in the area of 72.00 level, then I expect the price to decline to the area of 68.926.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Wave “C” is a five-wave wave and now the price is in the correction of wave “4”.
I expect the price to reach the downtrend line in the area of 72.00 level, then I expect the price to decline to the area of 68.926.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
Price has shown good downward impulse and now I think this impulse will continue. Therefore, I think that we should not expect a strong correction. Note
Colleagues, the price is completing wave “4” and I believe that we should look for a pattern on the downside. wave “5” is not completed, although some may say that they see the minimum of wave “5” at 70.272, but I believe that the minimum will be lower.
Therefore, I continue to consider short positions.
Note
Colleagues, the price reached the resistance area and we saw a reaction. The price bounced quite actively from this level and I assume that the downward movement will continue. I am only considering short positions. Note
Colleagues, the price has updated the level of 70.297 and I believe that after a small correction the downward movement may continue. At this stage I recommend that the trade should be set trades to breakeven.Note
The price is making a small correction and I believe it will continue its downward movement very soon.
Perhaps the correction will stop after reaching the downward trend line in the area of 71.00 level.
Trade closed: target reached
Well done!
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✅ Free TELEGRAM channel: t.me/HellenaSignals
🌅 INSTAGRAM: instagram.com/hellena_trader
🌅 INSTAGRAM: instagram.com/hellena_trader
Related publications
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.