XLF trade ideas
XLFNot a Fib expert but 1.618 from the Covid crash low is $40. This might line up with an overall market pullback...
I am Short XLF @ 37.65Banks are no longer a long . They are rotating out of banks into Tech
Daily looks good nice engulfing candle, stoch pretty
look vol more selling buying
Weekly starting roll but still above 80%. I am early on weekly.
XLF Forecast XLF broke out of multi year resistance level at $29~ After multiple failed attempts. Typically resistance levels become support zones after prices goes thru them. I’m watching current trend for any weakness that could indicate possible move to retest $29.
On weekly chart PPO EMAs have crossed, but week is not over yet. It’s 3rd time this year this cross attempted to happen. If week closes with EMAs being crossed, it would indicate weakness of the trend’s momentum. Interestingly $29 is currently at .5 fib level since 2020 lows.
XLF long @ 37.00Daily stoch great new high and nice uptrend absolutely beautiful
We need is some VOL
Weekly looks great can we get 40 maybe
#XLF: Financial names look strongI like the setup here for some quick gains in this ETF. Downside risk is very low compared to potential upside within the next 10 days give or take.
Longer term this could go higher, value stocks are strong in general due to inflation concerns and the reopening momentum.
Best of luck if taking this trade.
Cheers,
Ivan Labrie.
Long XLF 37.91They are going to print another 8 Trillion
So Imho banks gonna run
Daily looks good nice up trend
Weekly looks good up trend
so close breaking out
See we can get 39
XLF and others might lead the wayAs noted in my previous ideas about $SPY (bearish), $XLF, $XLI, $IWM, $XLE might be the catalyst that leads the markets higher. $XLF tapped the 8day EMA twice before going back to positive which to me shows resilience with a market that has no sense of direction. A nice hammer doji before breaking off into Memorial Weekend. XLF might try and tap the upper band (38.50 - 39) before fading back to middle channel.
Short XLF @ 37.84 high risk tradeDaily running out steam
see if that stoch turns down
Weekly says tired but up above 80%
I am short small shares with a stop
I am early
Financial Sector About To Break Out (XLF)I see a clear bullish triangle breakout formation on XLF, which is currently a leading sector in the S&P500 (with regard to relative strength).
XLF Short Round 2: Do You Believe in Second Chances?Upset that you weren't set up for the first drop that occurred last week? Well lucky you the market loves to trap people and right now XLF is in a bull trap (in my opinion of course) which has brought it back close to its all time highs. Massively overbought on the weekly and we ended with a big volume red hammer candle on the weekly. On the daily we have moved almost 2 dollars in 2 days with volume completely dying out on 5/14. On the hourly and daily we are almost back to our highs at around 38 with much lower MACD, RSI and VOLUME. Expecting a last push up over 38 for a few minutes on 5/17 then the beginning of a drop that will last 3 weeks. The XLF has been one of the sectors keeping SPY up when QQQ was selling off. The Qs have finished most of their selling but SPY has rebounded back going back up almost 2.5% in 2 days (a pretty significant move for SPY). There are so many sectors that are in the same spot as XLF. Helping to keep SPY up while the Qs sold off. XLE (energy), XLV (healthcare), XLI (industrials), XLP(staples), ARE ALL IN THE SAME BOAT WITH THE EXACT SAME CHART ALMOST. SPY and all these ETFs showing bearish sighs leads me to believe we are still in for bearish activity for the next 2 to 3 weeks for the overall market. Out of all of these etfs, XLF offers the lowest options spreads between bid and ask.
PT: Price comes back to next high volume VPVR range which is around 35.5. Also the 4 hour 100 ema can possibly bounce the price in the following days.
OVERALL: EXPECTING A SELL OFF THEN WE CONTINUE BACK TO ALL TIME HIGHS
ENTRY: BELOW 37.5
PT: 37.5-35.5
STRIKE: 36.5
DATE: JUN 11
XLF Bearish RSI DivergenceMarket leadership has clearly passed to the FAANGMAN group. Being deep long here is dangerous imo.
Major pullback expected in financialsI see an easy 10%-15% downside risk opening up in XLF. I have taken a short position via 34 strike price puts for may 21 expiry. My target is 31 to close position and will consider going long @ 29 level.
$XLF Bank's Earnings week.Looking at the near term indicators, the Stoch RSI stands out the most for me. On a daily timeframe, the daily RSI is not overbought, but the weekly timeframe shows some overbought action. My only worry this week would be if banks don't do well, which might be pretty difficult, that XLF might find itself double topping at these levels and starting a corrective wave. I'm looking at a breakout over 35.28 and holding to confirm a fifth wave above these levels. I've indentified key support and resistance levels at the pink horizontal lines pointed on the chart.
Continuing hourly negative divergenceShowing continued bearish divergence on financials with stochastic momentum getting weaker. Stochastic hasn’t seen the bottom of the range since start of month.
Long | XLFAMEX:XLF
Possible Scenario: LONG
Evidence: Price Action
This is my idea and could be wrong 100%,
TP ~35
CALLS for 21 April Strike 35$
XLF short reversal set upShort XLF at 30 minute level of supply 35.05 -35.13
Stop loss at 35.24
Target #1 34.38 Target #2 is 33.78
Risk is .19 Reward is .67 for Target #1 and 1.27 for Target #2
Intraday or Short term only as bullish trend is strong!
Abort trade if prices consolidates right below the level or if price gaps above level in premarket.
