Symmetrical triangle which is a continuation pattern has formed in crude oil 15 min chart.
Possible upside is around 7% hence the target is 2600 whereas the stop loss is 2395.
i would really advise to trail the stop loss.
The stock has already formed the DOUBLE TOP pattern.
A double top has an 'M' shape and indicates a bearish reversal in trend.
Now forming Symmetrical triangle, the value is going lower but it has strong support point to be noted and the volume is not increasing so price will take some time to go for the target that is 187 nearby.
(Symmetrical triangles occur...
In a easy language if the price will cross 939 price there will be a fall.
Currently price will penetrate and if cross 987 then possibility is it can go 1019. Stop-loss maintain 976 nearby
Also consider this stock have too many pin-bar the price movement is fast.
Pin Bar, which is short for 'Pinocchio Bar,' is a single candlestick setup that clues price action...