Updated

Crude OIL $UKOIL Classic pattern

I've seen this pattern many times over the last 5 years on different instruments, and its working out to over 50%
The essence of this pattern is a classic triangle with horizontal support, most of the participants realize that we will break down, but not everyone believes that we will take liquidity off the top before going down.
An instrument like oil is quite trivial and it can fall without taking liquidity off the top.
But I want to share a few examples of my theory working out, where the upper resistance line is broken before the drop-down

Best regards EXCAVO

Note

the bloodiest scenario

Trade active

Even after Trump's inauguration where he said the US will drill and drill and drill, I expect a move up to kill all the shorts.

Trade closed: target reached

Note

done

EXCAVO

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Crude oil

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