USOIL is forming an Ascending Triangle

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 By Deya Hroob




I am carefully watching Oil these days as it may offer us some profitable trades.

On the daily chart, Oil has formed an ascending triangle. It's considered as a continuation pattern. However, this is not always the case. We should follow the market.

How to Trade Ascending Triangle?

We should wait a breakout to happen. Aggressive traders can place buying order above the resistance line OR selling order below the slope of the higher lows.

Personally, I prefer trading retests when breakouts happen. Once a breakout occurs, I wait for a pullback to the broken line and open my position.

Trade Wise and Good Luck,

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