This is a C&H pattern at the base of the ORH. On the 15min chart. the handle was not as orderly as I would had liked since there are a few offsetting bars. But the 3min chart is better and it clearly shows the volume increase after the trigger bar. I exited my full position after 3 WBs because Oil was showing some signs of weakness after the nice morning run.
2 comments:
What is the link between Oil and an AgChem stock?
Thanks.
Not an obvious one! LOL
In my observation, these days the market is pulled by oil and financials (primarily). Financials have no impact on AgChem stocks, but POT loosely follows oil strength. I am no saying that if you compare POT to XOI you are going to see similar charts; but today I thought it was not prudent to stay long if oil was going to turn.
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