Colleagues, after a long break, I think it is worth returning to oil forecasts. The situation is stabilizing a bit and now I think that the price is in a strong correction (ABC) at the moment I see wave “B”, which may reach the area of 50% Fibonacci 70 level.
It is possible that wave “A” will continue to develop towards the 62-63 area, but I still hope for an upward movement.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
It is possible that wave “A” will continue to develop towards the 62-63 area, but I still hope for an upward movement.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Trade active
After a long flat period, the price finally showed a bullish trend, which is great. I don't think we should expect strong pullbacks to the 63 level and should set trades to breakeven now in the hope that the bulls will still reach their target.I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Note
Well, the price has reached the 6272 area, which means it's time to look at short positions, but I'm confused by the nature of the recent bullish sentiment, and I think the price may renew the 6272 level.Therefore, I would recommend working with pending limit orders.
Trade closed: target reached
Colleagues, the price reached the 70 level, but no higher. And even though the price did not confidently reach the 50% level, I still think it is better to close the positions. It would be even better if you closed your positions at the 70 level. In any case, I believe it is time to make a new forecast, because there is a high probability that after reaching the 70 level, we may see a downward movement.
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✅ Free TELEGRAM channel: t.me/+3vRnN-6fQphiNDVi
🌅 INSTAGRAM: instagram.com/hellena_trader
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.