I was going to suggest shorting the ‘D’ target of this rally in August crude when I discovered it had already been reached. The asymmetry of the ABCD pattern makes the target deceptive in that way, but what drew me to it initially was the strong resemblance between k-A and B-C. The D target was hit within 12 cents, confirming something I’ve noted here before — that this particular vehicle can generally be traded with expectations of a turn within 20-25 cents of the targets of well-formed patterns.
