XOP, swing trade base on MAs and Channel update
Hi All,
Apologize for very late update. I was reminded by some to update this.
as the post attached below said, i shorted XOP at 74.5 base on the fact that price was rejected by downslope of 8 and 20 EMA.
Profit target changed slightly to 69
Condition for such trade:
1st: Downtrend channel
2nd. after some upward retracement, price gets rejected by 8 & 20ema
3rd. target is bottom of the red channel
Apologize for very late update. I was reminded by some to update this.
as the post attached below said, i shorted XOP at 74.5 base on the fact that price was rejected by downslope of 8 and 20 EMA.
Profit target changed slightly to 69
Condition for such trade:
1st: Downtrend channel
2nd. after some upward retracement, price gets rejected by 8 & 20ema
3rd. target is bottom of the red channel
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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.