OIL Diganoal Triangle on the Daily Chart
Diagonal Triangle
Occurs only in 5th or C Wave
Subdivide into 3-3-3-3-3
sometimes have sharp, last gasp break through trend line
subsequent moves are sharp
Occurs only in 5th or C Wave
Subdivide into 3-3-3-3-3
sometimes have sharp, last gasp break through trend line
subsequent moves are sharp
Oil might punch through the upper trend only for a very short period of time (piercing) and would fall like a knife from there.