Hellena | Oil (4H): Long to resistance area 80.432.

Aug 19

Dear Colleagues, the price is in a corrective movement and at the moment I believe that wave “b” is coming to an end. The wave completion range is 100%-161.8% Fibonacci extension levels (73.591-75.000). Next, I expect price to rise to the nearest high of 80.432. This is the resistance area.

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Aug 20

Trade active

Colleagues, the price is in the area of strong support 100%-161.8% Fibonacci extension levels (73.591-75.000).
All my thoughts are only on long positions. Perhaps the price will update the highs a little more, but in general I think that the upward movement will start soon.

Aug 23

Trade active

Dear Colleagues, the price shows the bulls' desire to push the price up, but wave “b” turned out to be a bit longer than I thought, so it is possible that wave “2” has already taken place earlier and now the price is going in wave “3”. So I will expect a correction to the area of 76. Then I should set trades to breakeven, because there is a high probability that the price will continue the downward movement.

Aug 26

Trade active

Dear colleagues! Attention!
I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
As I wrote earlier - perhaps wave “2” took place earlier and now we can observe wave “3”. If the price will update the level of 72.631, I am sure that this is a continuation of wave “3”.

Aug 28

Trade active

Colleagues, despite the strong movement towards the initial target, I strongly recommend to either close some positions or set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

Sep 2

Trade active

Dear colleagues, I believe that the price will rise at least to the area of the nearest maximum of 78.5. At this level I plan to take profit. Then we will observe the price movement and make new decisions.