Hello Traders, we have been watching this inverse head and shoulders pattern forming on the OIH and so far its playing out according to plan. With our channel system analysis lately, now that I am back trading intraday I am allowed to get a feel of the markets and then use that sentiment with the analysis on our channel system from the daily charts. The OIH channels we have were carving out an inverse head and shoulders pattern for the past 3 months or so. Recognizing this pattern we start looking for oil driller stocks setting up for a nice bounce. This allowed us to put RIG on the watch list for Friday and profit from the trade. Join us in the trading room at thetradersroom.com password remote every morning.. Email me for info if you are interested in trading with my group.
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