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Hellena_Trade
Mar 24, 2024 12:15 PM

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

WTI CRUDE OILTVC

Description

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!
Comments
loser1993
It's a good thing to recognize a false rally
Hellena_Trade
@loser1993, let's see what happens next) it's a pretty interesting period now, when you kind of want to go short, but the main direction is long positions. It's hard to find an entry point)
StewySongs
👏👏👏
Hellena_Trade
@StewySongs, Thank you! 🙌🏻
melikatrader94
I am with long position, great one
Hellena_Trade
@melikatrader94, Thank you for your kind comments 🙏🌺
g_counter
I feel the drop will not be as deep as 79, before it tackles 85
PM_Gifted
@g_counter YES POLIZEI and My Grandpa didn't eat Mango in Auschwitz 😇
Hellena_Trade
@PM_Gifted, it's awful. I'm sorry
Hellena_Trade
@g_counter, I see your point. In fact, the price was at a pretty strong support level. That's the difficulty in calculating corrections. Corrections are often difficult.
I'm more into impulsive market movements)
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