Hi mates, Sharing weekly chart of XLE it is looking good by breaking a horizontal and falling resistance of triangle so i am considering that it is a breakout and planning to go long in it, targets identified by the two ways one is price based and one is pattern (triangle) based measured by Height of triangle from where it took resistance (last swing high) to swing low it made after that are the potential target can arrived in coming sessions.
This is not and trade or investment advice. This idea is meant for learning only.
This is not and trade or investment advice. This idea is meant for learning only.
Note
Poised to enter in targeted price zone, one fresh support also made during this runup Note
Price it is touching supply zone and seems it is ready to enter in supply based target zone after giving a highest weekly closing from four weeks and created a base near resistance which is acting a good support zone now for itNote
Bullish move! Entred in target zone friends, can do full supply zone targetNote
Price almost completed the supply zone target, will take a fresh long trade above supply zone crossover and close above for pattern base idnetified targetTrade closed: target reached
Target 93 levels complete yesterday, made a bearish engulfing in supply zone. Not given a fresh entry, will publish a new idea if mention breakout will happen
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.