I learned this from none other than Scott Carney. This was also a nearly perfect Wyckoff symmetrical triangle schematic. Also, if you know fib extensions, structure retraced to 61.8 and then went to its expansion level 1.618 so that's why I could see this as the new floor for oil.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.