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Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop. I am not a professional trader and I am not living from trading. Profitability is yet not given with my Trade set up and I am still learning. Goal of publishing my ideas is to document it in my trading logbook. Also crazy ideas for stress tests may be posted. Keep this in mind before simply copy trading ideas which you find at trading view (I noticed a lot of people are doing it here).
Trade closed: stop reached
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Comments
dani2020
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Hello, Why is it not more important to you the 27.30 to 52.74 rally as the primary trend for oil (up) to set your fibs?
Fibronacci
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Hi, the rally from 27 to 52 is important. The view above is a short term view to trade a smaller trend as the bullish trend which occured from 27-52.
Also the rally from 27-52 is not the primary trend. There are still bigger trends which can be considered. Hope this answers your question.
dani2020
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Thanks. If 27-52 is not the primary trend you expect to test lower over time? For me major bottoms can "reset the clock" but that is the big question, whether 27 is the bottom J