Crude Oil has been following my cycles pretty well this year. I published a trade idea back in early May, which shown my preliminary cycles. I updated them again and price has been following the new projections very well.
On the chart you will see 4 colored boxes which I described as phases (nothing to do with Elliott wave), which clearly shows that the cycles (black lines) pointed to a top towards late January 2018. Phase 2 of the cycles shown that price should break the high of phase 1, and that phase 3 should break the high of phase 2.
When trading cycles it is very important to use technical confirmation techniques to trade the forecasts and not to only rely on the cycles. What I have found over and over again that it is better to trade the secondary lower high (like in phase 1) or the higher low (like in phase 2) or phase 3.
These cycles correctly shown the direction of Crude Oil since January 2018 and what's interesting to note is that they indicate a side ways consolidation at the moment, which may last a couple of months.
Anyway, I will now continue watching price to see if it reacts to the cycles dates that are now projected into the future.
I will provide updates as the week and months progress.
Regards
RigK
On the chart you will see 4 colored boxes which I described as phases (nothing to do with Elliott wave), which clearly shows that the cycles (black lines) pointed to a top towards late January 2018. Phase 2 of the cycles shown that price should break the high of phase 1, and that phase 3 should break the high of phase 2.
When trading cycles it is very important to use technical confirmation techniques to trade the forecasts and not to only rely on the cycles. What I have found over and over again that it is better to trade the secondary lower high (like in phase 1) or the higher low (like in phase 2) or phase 3.
These cycles correctly shown the direction of Crude Oil since January 2018 and what's interesting to note is that they indicate a side ways consolidation at the moment, which may last a couple of months.
Anyway, I will now continue watching price to see if it reacts to the cycles dates that are now projected into the future.
I will provide updates as the week and months progress.
Regards
RigK