I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Sunday, 15 July 2018
Trade Review: Oil Price (Brent) to Retest Trendline as Forecast
Supply came in on 3rd July, creating a Japanese candlestick pattern called Bearish Harami. As oil fails to break the US$80 resistance on 2nd occasion means that supply is beginning to dominate. Once supply overwhelmed, price will have the tendency to retest demand at previous support.
Traders who shorted would have gained US$3.00 (+3.9%) from the recognising change the increase in supply.
Join us on the next Wyckoff course and learn how to identify resistance failure and target pricing setting by recognise demand and supply imbalance, trading in harmony with the smart money!