May 17, 2016
Market Psychology Of A Wedge Morning On Crude Oil Futures; SchoolOfTrade.com
Today we come in to Crude Oil seeing a very small gap up on the day and immediate buy pressure to attempt the breakout of the wedge this morning. This gave a breakout move which came back to retest allowing buyers to load in heavily back to the highs.
A lot of times patterns will happen in this way where you have the aggressive early traders causing the breakout move and then it will come back almost as if to give everyone a chance to jump on board with the move!
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