US OIL 1 Day & 4 HR - Head & Shoulder Bottom Secondary Breakout
About a month ago we took a look at US Oil & identified a classic reversal pattern called a head & shoulders bottom. We predicted a breakout from this level, however, there was a previous level of structure slightly above the neckline that I thought would be tested first. After nearly a month of consolidation, we've finally violated that level which allows me to predict a continuation higher.
Two extension levels that I have on my radar are the $59.50's level which hosts both a 50% Fibonacci retracement & a 127.2 extension. And the $64 even handle where we have confluence between the 61.8 retracement & the 161.8 extensions.
Your Trading Coach - Akil
Two extension levels that I have on my radar are the $59.50's level which hosts both a 50% Fibonacci retracement & a 127.2 extension. And the $64 even handle where we have confluence between the 61.8 retracement & the 161.8 extensions.
Your Trading Coach - Akil
BEAT THE HOUSE - FREE 4-DAY ONLINE TRADING WORKSHOP Full Recordings Available Until 8/31
tieronetrading.com/beat-the-house-2/
"The Trading Coach Podcast" - Available on your favorite podcasting app!
anchor.fm/thetradingcoachpodcast
tieronetrading.com/beat-the-house-2/
"The Trading Coach Podcast" - Available on your favorite podcasting app!
anchor.fm/thetradingcoachpodcast
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.