I have seen a few charts of "collapsed candles" but never really understood them.
As a newbie I would look at each specific candle on their own and trade off that - I failed big time. Now that's obviously starting to change as I learn how to look at the big picture. There was a nice dark cloud cover on the 5min today at resistance. Turned out to be an 8pt trade if you took it too.
Back to oil....
On the daily it looks like a descending triangle is forming. Not sure which way it will breakout. And for the weekly, I'm not sure how to read that candle. Strong volume, so would that mean price fell and buyers came in to bid it back up?
