Hellena | Oil (4H): Short to support area at 67 (Again).

5 Nov 2024

Dear Colleagues, I believe that price is still in a five-wave downtrend. The mid-order wave “3” is in a small correction, but very soon the downward movement will continue.
I believe that the price has already closed the gap and may reach the resistance area of 74, then I expect the price to decline to the support area of 67.046.

There are 2 possible courses of action:
1) The riskier one is to open a short position on the market.
2) Conservative - wait for the price to rise, and enter with less risk.

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

6 Nov 2024

Nota

I specifically wrote on the chart that I don't recommend buying it. It is, but at the moment I still think that the price will rise a little bit more towards the 74 area.

8 Nov 2024

Nota

The price is slowly approaching the resistance area, but there are no obvious changes yet. After the election, the chart has gone a bit quiet, but I am sure that the local high of 73 will be updated.

11 Nov 2024

Nota

Colleagues, I believe that price is in a difficult correction and wave 2 may not be complete yet. The level of 73.10 can still be updated, but an update of the level of 70 may mean that wave 2 is already completed and the price will go further to the target.
The beginning of the week will show the price sentiment.

12 Nov 2024

Dagangan ditutup: sasaran tercapai

Dear colleagues, the price is very close to the 67.046 target, so I will prefer to close the position a bit early. There is a probability of a strong correction, and so it is better that we enter the short position again later.