Wednesday, December 10, 2014

Crudeoil positional analysis 10.12.14 Update V

Falling or Declining

This formation occurs when the slope of price bar highs and lows join at a point forming an declining wedge.  The slope of both lines is down with the upper line being steeper than the lower one.  To trade this formation, place an order on a break up and out of the wedge or a sell order on a break down and out the wedge.  Falling wedges, with a prior uptrend, are anticipated to break up and out, rather than down and out.