"CL - Energy building?" by trader forker — published October 20, 2015

TradingView

Go PRO

Long

Light Crude Oil Futures (NYMEX:CL1!)

NYMEX:CL1! Light Crude Oil Futures

CL Crude Oil FORK forker priceaction medianlines actionreaction newton babson Andrew's Pitchfork

cl crudeoil fork forker priceaction medianlines actionreaction newton babson andrewspitchfork

Everytime i see such coils, i think of somebody who has a "job" to do...
The projected upside explosion would meet exactly the BRK point.

I only think about long when price is closing above the Centerline.

P!

Free Mini Crash Course:
https://mailchi.mp/a81e4690ccc4/forktrading-blueprint

Website: http://www.ForkTrading.com
YouTube: https://www.youtube.com/channel/UCVYml-t_FpL_2nloS1jZ6_Q

Price is really holding the MPL Centre Line ( Uppward Black Dotted Line ). I also see the Coil 1st building between the two apposing CL's creating a wedge & then the Zoom Bar & the pull back.....all in all with higher bottoms...Good case for a big uoward breakout! Nice chart!

Timing is key

Exactly, breakout trades need a coiling process first.
This has run its course, might be ready soon.

If we get your pattern's first big bar, sure thing.

Nice analysis. I have similar view, especially if it closes above 51.00
Two major factors will come in to play: 1) $DXY 2) Inventory builds.

Community & Tools

House Rules Moderators People Chat Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar AppStore

For Business

Website & Broker Solutions Widgets Charting Library Trading Terminal Brokerage Integration Advertising Referral Program Content Streams & RSS

Support

Status Page Blog Feature Request Help & Wiki FAQ Contacts

About

How It Works Features Compare Plans Press Terms of Use Risk Warning Privacy Policy Cookies Policy

Made with

From the creators of MultiCharts

Select market data provided by ICE Data services