ccaru
Long

Long EPD on a counter intuitive trade

NYSE:EPD   ENTERPRISE PRODUCTS PARTNERS L.P
52 1 1
I consider ascending or descending triangles among the more reliable patterns, but failures of these patterns can be quite good too. EPD             has formed a descending triangle on the short term, but is also finding support at the uptrend line on the monthly.
It also coincides with a similar support level on oil             spot price.

Coupled with good fundamentals, a long on EPD             can be a good way to play the oil             recovery.

RRR             is optimal for this long term trade. Fading the descending triangle pattern here.
Closing at 33.49 after a series of lower highs/lows on the 30 min chart
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