Hellena | Oil (4H): Short to support area at 67 (Wave "3").
Updated
Dear colleagues, I believe that at the moment we have a great opportunity to find an entry into a short position that will bring us many pips.
The fact is that the wave “2” of the middle order is completed, which means that the wave “3” of the higher order continues the downward movement in the wave “3” of the middle order.
I expect the price to rise a bit more to the 78 level, then I expect the price to drop to the 67 level. It will not be a quick drop, but we will be able to go short several times.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
The fact is that the wave “2” of the middle order is completed, which means that the wave “3” of the higher order continues the downward movement in the wave “3” of the middle order.
I expect the price to rise a bit more to the 78 level, then I expect the price to drop to the 67 level. It will not be a quick drop, but we will be able to go short several times.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
Most likely, the price will not update the level of 76.585 and will continue the downward movement. Perhaps we will see a corrective movement on which there will be an opportunity to go short again.Trade active
Colleagues, price has paused its downward movement a bit and is in a slight consolidation.
I believe that there will be a correction to the area of 72.299, from where I will again consider short positions.
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