BP MIdstream also finishing off its sail down the stream. BPMP

An almost identical technical picture to the previous (IEP). It looks like we are almost done correcting in this one, but who knows. These types of analyses can show us a way of how things may eventuate, but rarely are they 100% accurate. The market always has a mind of its own, but luckily for us, an inkling of what might happen on the market is usually enough to be profitable. We do not need to know what the market will definitely do, just an indication of what it is likely to do. The rest usually takes care of itself. And all of that is purely with the technical picture alone.

We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: stop reached


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