Hellena | Oil (4H): Long to resistance area (maximum of wave C).

Dear colleagues, I suppose that the upward movement is not over yet! The price is forming Multiple Zigzag. I expect the price to reach the support area at 79.00, having finished wave X, after which I expect the upward movement to continue at least to the resistance area - the maximum of wave C at 83.00.
I do not recommend entering short positions! We are looking for a good entry into a long position.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

Comment:

At the moment, price has started an upward movement, but it can be deceptive. Colleagues, do not forget to set trades to breakeven or close part of positions, because there is a possibility that the price will still reach the support area or the uptrend line.

Comment:

The price almost reached the target, but we are seeing a correction. I will not write a new idea, because I suppose that the price will reach the target.
I assume that the price will touch the ascending trend line. I suppose that the price will give us a better chance to go long.

Comment:

Colleagues, price is in the forecast range and I suspect it is in the uncertainty zone. We need to watch carefully what happens at 81.68. It is about halfway to the target and a reversal is possible.

Trade closed: target reached:

Well done!