Trade of The Week | Classic Breakout & Retest Trade 🔥🔥🔥
Hey traders,
As you know, for the last two weeks I was very bearish on OIL.
Spotting the overbought state of the market I was looking for a channel breakout trade.
Once the channel went broken, I was looking for a retest of its broken support to short.
The price formed a cute double top formation with a lower high retesting the broken trend line. My trigger was a bearish breakout of its neckline. Short position was opened on a retest.
Great & quick winner.
Did you catch this move?
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