Lanmar
Short

USOIL Potential H&S/Pennant top

FX:USOIL   Crude Oil (WTI)
254 0 7
15 days ago
The risk/reward proposition is best to the downside. Any daily close above 51.50 closes my short position.
9 days ago
Comment: I will update with my trade decision at the 43 handle. I will definitely close my short position there and will consider going long. Something to consider when seeing H&S patterns is when they are "fake" they tend to reverse with great magnitude. The reason is because too many traders are on the same side of the trade, therefore their stops are in the same location and all have to cover at the same time, which creates an explosion in price.

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