Crude Oil Inside Bar False Breakout – Hikkake Pattern

crude oil hikkake pattern

Given the recent bullishness in crude oil, I was expecting it go higher. I set a stop entry buy when it broke above the mother bar on 5th July. However it turned out to be a false breakout. Price retraced back within the inside bar.

It was a false breakout and such price action is known as a hikkake pattern.

But somehow I just didn’t “see” it. I didn’t know what got into my head and completely missed it!

Should have liquidated my long position and turned short immediately. But I didn’t because I totally overlooked this hikkake pattern. I was stopped out in the end.

Well I am not sore about it. Just another learning experience for me. I need to open my eyes bigger in the future! 🙂

Moving on to the next trade!

1 reply
  1. Dan Chesler
    Dan Chesler says:

    Alex than you for covering the hikkake pattern on your blog. Are you currently living in Singapore. I am living in south Florida USA. Let’s stay in touch.

    Regards,
    Dan Chesler

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