Hellena | Oil (4H): Short to support area at 64.617.
Updated
Dear colleagues, it seems that the price is in a downward movement and at the moment the price is forming wave “2” of lower order.
I assume that after the formation of wave “2” (72.299), the price will start to form wave “3” of lower order.
The nearest target is the support area at 64.617.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
I assume that after the formation of wave “2” (72.299), the price will start to form wave “3” of lower order.
The nearest target is the support area at 64.617.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
Colleagues, the price is still standing still, but I think that the level of 70.645 will be updated soon, as the news background is on the side of the bulls. Trade active
Colleagues, most likely the price will not reach the level of 72.299. I see the maximum correction level at 69.40.
In general, I believe that the price will continue its downward movement.
Trade active
Colleagues, the price continues its downward movement and I believe that very soon the price will reach the target area.
Still, I see the possibility of price correction to the 70.00 area.
I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Trade active
Dear colleagues, the price does make a correction. I think it is possible around the level of 72.00.
In any case, this means that wave “3” will renew the minimum of 65.65.
Trade active
Colleagues, as I wrote earlier - the price is still making a correction before moving to the target 64.617. Perhaps the price will fully reach the resistance area of 72 (wave “2”).
Then I still expect the continuation of the downward movement.
Note
Colleagues, the price is confidently moving in a corrective wave. I continue to say that I expect that the price may update the level of 72 and reach even the area of 73.
But I urge to be careful as the downward movement is not that far away and I am hoping for short positions.
Trade active
The price has reached the resistance area at 72.299 and I am starting to consider only short positions.
In theory, the price can go even higher to the level of 74, but I still expect a downward wave “3”.
Trade active
Colleagues, the price has confidently reached the resistance area 72.299 and so far shows no signs of reversal, but the bulls have already started to lose strength and it means that the price is completing the correction in wave “2”. Perhaps the correction will extend a bit to the level of 74, but this does not cancel the forecast. Trade active
Yesterday the price reached the level of 70.379. I believe that this is the beginning of the downward movement. I expect that this week we will still see the beginning of a strong downward movement. Trade active
Price has traveled a long way towards the target and now I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
It is quite possible that the price may update the high to start the downward movement again, but we will be ready for it!
Trade active
Colleagues, the price has not yet updated the level of 67.724. I remind you that last week I recommended to move some trades to breakeven, and some trades to close. Because there is a probability that the price will once again update the level of 73.210, and then will start the downward movement again.
In general, I would not take any risks and waited for the development of events, but I would like to see the completion of the scenario this week.
Translated with DeepL.com (free version)
Trade active
Well, I recommended should set trades to breakeven for a reason. The price has already reached the resistance area and now I allow the possibility of reaching the level of 74.00. This movement is the wave 2.
Therefore, I again advise to look at short positions.
Trade active
Friends, as I supposed - the price has again updated the maximum and reached the level of 74.00. The price growth is due to the situation in the Middle East. But in any case, I still think that the price will start a downward movement this week. I think it is important to reach the level of 70.396 first. 
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