Monday, June 6, 2016

Price Action Trading The Wedge Breakout On Crude Oil Futures3;

Today we see Crude Oil in a relatively obvious wedge since the EU session took hold. This gave buyers and sellers the opportunity to fade either side for failure moves. We then saw a VERY strong breakout of the normal movement you would expect.

This breakout movement told buyers that the market was poised for a move higher and potentially quite aggressively given the amount of strength that came into the market to form such a strong bull breakout candle!

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