#oil continuing to slide. Now its bigger than the june 2016 correctionan and faster. Most likely we have begun a long-term downtrend on oil that could last over a year. I would guess that it will fall somewhere between 32 and 17. Probably fairly rapidly as countries sell of their stores of oil and start pumping out more off*
Probably happen before Q3 next year.
SCM’s strategy is rooted in Elliott Wave Theory and Fibonacci Sequencing. Elliott Wave Theory was developed by its namesake, Ralph Nelson Elliot, in the early 1930s.
This theory postulates that markets trade in repetitive cycles which are driven by emotions of investors and mass psychology.
SCM’s use of Elliott Waves is coupled with Fibonacci Sequencing. Fibonacci Sequencing is a numerical series named for Leonardo Pisano, who first observed Fibonacci Sequencing in mathematics and the natural world. Better known as the Golden Ratio, Fibonacci Sequencing, has been found in numerous facets of nature, mathematics and in financial markets.
Elliott Wave Theory and Fibonacci Sequencing are used by SCM to gauge and determine price flows within the FX market and identify strategic trade entry and exit
SCM has subsequently refined and focused its use of Elliott Wave Theory and Fibonacci Sequencing through fractal analysis and temporal overlays and shorter term technical pattern recognition.