$CL Bull Trap?If history has taught me anything it is this...
"They'll make the chart look as bullish as possible before the rug"
And when I look at this chart, my immediate reaction is bullish. But upon closer inspection I see some warning signs.
1.) $85.9 seems to be incredibly important. More importantly, we are below, and failing yet another retest of it.
2.) I have this idea of "springboards," its the idea that below support and above resistance there is a number offering support/resistance in each retest. In this case $82.09. It's when this number ultimately fails that you get the bigger move. Ex. Sell $85.9 OR break of $82.09
The R:R is sharply to the downside. But timing is everything here. If wrong, $102.4 target, if right $53.11 target.
