Jump to content

Brent Crude is following my roadmap

Recommended Posts

15 hours ago, Mercury said:

Brent Crude is no longer following my road map.  Time for a new road map.

Thread ends

A short post, but one which people probably shouldn't breeze over so lightly.

Whilst this shouldn't be construed as financial advise from myself, and any trade or strategy decision you make must be entirely your own, it's important to notice when your convictions are not met and you need to either cut the trade, cut your losses, take your profit, or reevaluate the market. Statistically on the data we've seen people more often than not are winning their trades, however they hang onto the loss making trades for far more pips which negatively impacts their trade balance which factors into 'the 80%'.

Good job for stating so publicly. 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,268
    • Total Posts
      36,133
    • Total Members
      46,126
    Newest Member
    Peterdeu
    Joined 22/08/19 16:36
  • Posts

    • With the breakout of GBPUSD (would like to see a daily close above support there and ideally a breakout through the daily channel line) and EURUSD making up its mind about whether to breakout or not I look at the third pair in the Triad for clues.  My thesis is that when both of these markets rally it will be on USD weakness rather than intrinsic strength in either one BUT as GBP has been more depressed of later and with so much negativity around about GBP vs EUR the spring back relief rally will be stronger on GBP.  If right we should see EURGBP turn and drop fast and hard and continue to do so for at least as long as the primary pairs rally lasts. And that is what we have seen so far with what looks like an exhaustion overshoot of my daily chart channel line and drop back inside.  A drop away from this area is confirmatory of an exhaustion spike, and that is what we got.  There followed a small 1-2 retrace, relief rally, which retested the channel line but failed to break back though, and another small 1-2 before a short term channel (1H chart) break and failed retest and then we were off to the races. Recently there has been a consolidation in what could be a small pennant of another 1-2, probably the latter and then a fast break down from this formation to where we are now, testing the lower daily chart channel.  If I am right about a period of USD weakness then I would expect EUR to join the party soon and so we may see a relief rally off the daily channel lower line before a confirmed break. Worth watching the Triad to see how things progress over the coming days and during the Jackson hole panto.
×
×