Hellena | Oil (4H): SHORT to support area of 55.204.

Colleagues, I believe that the price will continue its downward movement. At the moment we are observing a combined correction. I expect the completion of wave “Y”. Even if it is already completed, the price is still waiting for a downward correction to the support area of 55.204. Therefore, I think that 55.204 is the 1st minimum target.
There are two possible ways to enter the position:
1) Market entry
2) Pending Limit orders.

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I believe we can look out for more favorable short positions from here on out. The price is in the resistance area of 64.00 and I think it may even reach the area of 66.00.
But it does not matter much, because I am still optimistic that the price will continue its downward movement soon.

4 days ago

Note

Well. After the price was flat for more than a week, we finally saw the beginning of the movement to the target. At this point I think it is quite important to overcome the level of 60.36. After that, I will be more confident that the price will continue its downward movement.

Hellena_Trade

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Hellena | Oil (4H): SHORT to support area 65.268.

by Hellena_Trade

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Hellena_Trade

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