Just wanted to share my triangle scalping theory for crude oil

27 Jun 2017

This pattern has brought me great success scalping crude oil.

How to trade it:

• Look for an ABCD triangle formation with lower highs and higher lows.
  
• Draw the triangle with extended lines.
  
• Measure the baseline at B and divide it by 2
  
• Add this value to the point of breakout to get a nice padded target to either side
  
• Look out for fakeouts and good luck.
  
• Backtests may occur on the extended lines to the right but moving between them invalidates the triangle and the trade should be closed.