Tuesday, January 26, 2016

Price Action Trading The Wedge Pattern Breakdown On Crude Oil Futures; SchoolOfTrade.com

Selling the Wedge Pattern breakdown allowed us to pull in a solid 96 ticks for the deep pullback!

In today's video we see the Crude Oil forming an Ascending Wedge which broke down with a great selling candle.

This gave us an opportunity to sell the breakout move lower for $960 in profit on only 3 contracts!

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Price Action Trading is all about knowing the day type and knowing how to trade it at the right place at the right time. Ascending Wedges and the subsequent breakouts of them can be phenomenal places to get into trades provided you know what to look for! This was a gorgeous example of one knowing where price wants to go and getting out before the buyers take back over!

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