Today /cl rallied and eventually topped out - but the classic triple top wasn't there. Instead, the old classic Head/Shoulder top formed with the right shoulder also being a perfect backtest of the rising trendline that broke intraday.
A big volume 1-min candle finally printed on a big down tick and that was clear confirmation the /cl would be giving back the rest of the day.
Once again -- a triple pattern emerges.
One thing to look for when you can't see it yet -- draw the prevailing trendline. The TL broke at 14:03 and the final top was in 14:22. So the TL break gives you plenty of warning and cues you to watch for a valid pattern.
Note: If it isn't obvious: triple patterns have SYMMETRY. In this case, both shoulders are almost exactly 25 minutes away in time from the head. shoulder - 25m - head - 25 m -- shoulder -- and DROP.
If the symmetry is not there - it's not the droid you're looking for.
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