Bearish Signal on OIL

SRTrader

Active Trader
Aug 25, 2009
6
0
37
The OIL has formed a very strong chart pattern - the Descending Triangle. This pattern is a strong reversal chart pattern that usually leads to breakout downwards. Pattern's size is 40$ - a size that allows us some very profitable trades with good risk:reward ratio.

Trading:
Enter short at the breakout of support
Enter short at resistance (after reversal signals from price)

Analysis:
http://support-and-resistance-trading.com/2009/09/16/oil-descending-triangle-bearish-pattern/
 

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