Steven_Maas

FIBONACCI TRAINING #02: UKOIL (BRENT OIL) Q1 ANALYSIS

FX:UKOIL   Crude Oil (Brent)
This Fibonacci training will hopefully be of aid to you. I'll continue to train and educate myself, so I thought why not share the process.

We'll continue with the Fibonacci training #2 on the 18th of April             2016, which is a monday. Again a little Fibonacci story with, hopefully you'll agree with me, a decent explanation. This time we can see the Fibonacci Retracements reacting to the Fibonacci Extensions (and over-extensions). It seems almost too much a reflection of real life, right?

Before you ask: yes I watched many episodes on National Geographic Channel. Life is great, especially when it can be analyzed on charts, using mathematical solutions. They turn into little bedtime stories for toddlers, if you'll transpose some of the words.

If you missed the first Fibonacci Training I shared, it's linked in the 'related ideas' below. Please let me know what you're thinking by commenting, and have a great time trading.
beautiful colour scheme, awesome analysis :) Heading down next week, I agree.
Oil Rejected @ Fib Confluence
+1 Reply
Steven_Maas franciskim
Thank you very much, and I'm sorry for the late reply! I guess I missed the notification.
This one was a bit more about the analysis of the Fibonacci levels but surely still we're right about the heavy resistance there.
Hope this works out for you, wish you best of luck. Regards,
+1 Reply
franciskim PRO Steven_Maas
Thanks Steven, all the best to you!
Reply
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