Ascending Channel on WTI Oil @ D1
The ascending channel pattern on daily chart of Crude Oil presents a potential for a bearish breakout trade. As always, the pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown on the chart).
More information, and an MT4 chart template can be found on earnforex.com/commodities/wti-crude-oil-in-ascending-channel-price-objectives-in-case-of-downside-breakout/
More information, and an MT4 chart template can be found on earnforex.com/commodities/wti-crude-oil-in-ascending-channel-price-objectives-in-case-of-downside-breakout/
Note
I did not take this trade, but it appears to have been a profitable bet.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.