January 22, 2015

Price Action Trading A Head And Shoulders Pattern On Crude Oil Futures; SchoolOfTrade.com

Selling the breakdown of the Head and Shoulders Pattern on Crude Oil allowed us to bank 70 ticks this morning!
In today’s video we see Crude Oil forming a Head and Shoulders Pattern at the highs which began breaking down.

This gave us an opportunity to sell the breakout and take a profit of $700 on the trade with only 1 contract!

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Price Patterns like this with a Head and Shoulders Pattern can get you in some VERY nice moves and this was a perfect example of that! Even with the strength we saw to the upside, the pattern reversed price right back to the lows and even farther!

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