Let's see if this area held and if another measured move would have helped identify a potential exit for a long position:

You can see that price indeed turned on a dime in the area of confluence [or at the energy point] and has climbed all the way back to re-test the original lower median line parallel, a move of well over $40 per barrel. As you can see on this chart, there is no area of confluence yet, so as price moved higher, I simply keep moving up my stop profit orders each time price leaves a new higher swing low. Although you cannot see it on this chart, price continued much higher and is currently testing the upper median line parallel at nearly $120 per barrel, and the simple money management technique I showed on the chart above of moving my profit stops below each new higher swing low as they unfold has kept me in this trade all the way up!
Simple measured moves, whether you were living in Phoenicia over 4000 years ago or a current active trader, are easy to use once you understand them and can help you produce tremendous profits, especially in strongly trending markets!
I wish you all good trading.
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