oil EURGBP

2.2.2020 I had a lot of reservations doing this video. I tried three or four times to be honest. Part of it is because the price came to structure very nicely on oil, but the price action of gold is so bullish despite the 10 point correction this makes a long trade less likely to succeed even though you only need a $2500-$3000 correction hire to make it a very good long trade for scalp. I do not scalp personally although I will get out of a trade this fizzling after dawn higher but not high enough to take my first target, and then I just terminate the trade before it becomes a significant loss.

The other other reservation I had was that I used an example of a chart with a range pattern that was okay, but the projection from that range seemed so out of character for how I would project targets when market breaks lower as was predicted by that Chartist. In all fairness I never have and never will trade that currency pair and therefore have no familiarity with that market. And there are probably as many trading styles as people who post. For the most part I consider the bottom of arrange box that looks "right" in a market that is this bearish to be a good opportunity long trade. In this market I would look to see if the sellers will end up failing to make new lows. if they do, at some point the market will start accelerating higher because of the lack of structure created by the market when it foolishly moved lower.

As I type this sentence I am seriously contemplating not uploading this. If you end up seeing this video, listen cautiously. Regarding the oil trade, you look like a genius or an idiot fairly quickly, and to be honest it's hard to know if you really have an edge going long on this trade, but this is a great set up for what I look for....for a lot more than a three to one trade.