Brent Crude Oil. Proper Technical Analysis.Greetings fellow traders,
As time goes by, the markets evolve...
If your way of TA is strong, then the path will lead its way...
More visible, more probable:
Dashed lines; Possible forming patterns / support or resistance
Solid lines; Confirmed patterns / support or resistance
Dotted lines; Possible price-action trajectories / wave trend
Lighten colors = support | Darken colors = resistance
Current Pattern Formation Level:
Alpha pattern: Falling Wedge
Possible Beta pattern: Descending Channel
Today's Note:
it's time to separate the boys from the men and do some proper Technical Analysis. Because guys, there are people out there who are actually saying that Technical Analysis is a "self fulfilling prophecy". The next sentence, only fundamentals can help you... Well, this kinda make my blood boil. I mean, it's like looking through a looping glass. I reckon they are living an inverted world. How can you be so confident on fundamentals only, when you know you're living in a fake news era. This seems ignorant, apparently lazy, hypocritical and a bit naive to me. Because truthfully, like most and far more experienced true great traders or analysts would say, "Show me the markets, then I'll show you the news!".
if you want to believe in lies, that's your prerogative. However, telling lies about Technical Analysis... M@*&#^$!*@#!%_F@cker, better be ready to take some verbal punches... ^_^
Since some of these idiots basing their so called recession on crude oil technical's and fake news. In addition fear mongering. Well, let me show you the real news. This drop was suppose to happen anyways. It already got rejected at the resistance, heading back towards the support for a retest. Just as what is happening now. So yeah, it looks like it's even going down a bit more. But a recovery looks inevitable. You have to look at the big picture not only a moment in time. The price action is about to reach a super strong support. Which is highly probable that the price action is going to bounce back up, retesting and possibly even breaking out, reaching new all time highs. I want to say... Beat that, with your click bait fundamental based on fake news crap. However, currently only time will tell, whether this forecast will truly play out. Needless, it does not matter why this is going to happen, as long as you cannot estimate the possible trajectory.
Might be cool if you were coincidentally correct. But you will never be able to tel when to enter and/or exit the market. NO CLUE. The same people were super bullish before the BAKKT dump with btcusd. Getting rekt afterwards. Justice already prevailed, fortunately. Yet, they keep trying.
Anyhow, in this case I will wait for a confirmation of the support and hence showing a bounce back movement. That's the safest way of entering the markets. Follow the trend. Because, the trend is your friend!!!!!! Although, you need to have real TA skills & some experience to find them. I have yet to see the first Fundamental analyst, who shows a rational possible target to enter nor exit. Who knows, they say there is a first time for everything. I fear I might be dead due to old age by then though.
To be concluded...
