West Texas OilLong
Coming Bullish Trend
Hi Guys,
Rectangle Channel is being formed for OIL/USD.
"Rectangle Channels" are continuation patterns. Rectangle channel breakouts in the trend direction are more reliable than breakdowns against the trend. There is a Strong 5 months Support is helping upcoming trend.
Target: The width of the "Rectangle" channel usually defines the resulting target move. The height of the rectangle, at the top to bottom trend line, is the first target in "Rectangle" channel trades.
Stop: A "stop" order is placed at the middle of the rectangle channel to protect the trade.
Good Luck!!!
Rectangle Channel is being formed for OIL/USD.
"Rectangle Channels" are continuation patterns. Rectangle channel breakouts in the trend direction are more reliable than breakdowns against the trend. There is a Strong 5 months Support is helping upcoming trend.
Target: The width of the "Rectangle" channel usually defines the resulting target move. The height of the rectangle, at the top to bottom trend line, is the first target in "Rectangle" channel trades.
Stop: A "stop" order is placed at the middle of the rectangle channel to protect the trade.
Good Luck!!!
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