Energy filled gap and then reversed50 day moving average still supports an intermediate trend of up.
XLE trade ideas
Energy sector at key level This could be setting up for a nice swing trade over the next few weeks/months. Keep an eye on any further breakout and consolidation above shaded rectangle and 50 day moving average in orange.
Approaching daily sell zone63-64$ is a potential sell zone that includes Fibonacci level (61.8), minor structure and the 200 days MA.
Previous candle closed a bearish engulfing or as Outside Bar pattern.
A close below 62$ will probably trigger selling towards 60$ and 58$ (final target zone)
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl
To subscribe to the newsletters - goo.gl
Follow my blog - goo.gl
Subscribe to my Youtube channel - goo.gl
XLE... Hahaha Where will price go?:-) Pruhos?I might be wrong. :-) but not where I would be willing to buy either.,..
Energy sector ideaBuy on dip to 59-60 with a stop below rectangle support. Ride upward with 50 MA into 200 MA. Risk a buck for $4 upside. This one might not materialize after strong day today. Hands off if so.
XLE Energy SectorWhile its not a done deal, I would be lightening up in the energy sector. I Bearish Bat formation could be forming. Typically they go to 0.886 retracement. We are not there yet, but getting close. Volume is dropping off some. RSI is making a lower high. Look to get back in around $59. I wouldnt try to short this but I wouldn't be going long either. Neutral.
Two trading scenarios to monitor during FOMC week $XLE reached the final target zone of the last bullish setup I published for it.
AB=CD pattern was complete and now the price is testing a daily downtrend line.
As we will open FOMC week, the first thing to monitor is where the price is related to 63$ (current resistance structure zone).
If it'll be below it, we may see a short term pullback towards 60$ and potentially even to 58$.
If it'll close above the trend line, we may see it continue towards the 66$, there it'll meet the 200 days MA.
The two potential scenarios are shown in the chart.
I'd much rather see $XLE declines to levels that will allow me to buy it before the price's next bullish wave.
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl
To subscribe to the newsletters - goo.gl
Follow my blog - goo.gl
Subscribe to my Youtube channel - goo.gl
$XLE - Energy sector looking for a jump?Perfect triangle formation in the making of $XLE
Breaking strong resistance today. Would be perfect if it closes above resistance.
If it does not jump tomorrow I'm going to look for lower entries.
Entry: 58.50
Target: 63.00
S/L: 53.80 (Gradually bringing it up as the trade goes)
If it goes under entry, will try to get some more shares at 56.00
Continues to climb towards 60$. This is what you have to watch$XLE continues to climb towards 60$
I was covering $XLE throughout the last month and mentioned the AB=CD pattern completion near 60$ that the price was aiming for.
Now, $XLE is struggling with the Fast SMA line that stands in its way and keeping it from reaching 58$ and 60$.
My focus now shifts to 59.5$ and 60$ as potential sell zones for a pullback move.
I'm still bullish Oil, but 60$ can lead to a 5-10% correction in the Energy sector with the two bearish harmonics combination.
Tomer, The MarketZone
Follow me on TradingView
Subscribe to my newsletters - goo.gl
Follow my blog - goo.gl
Subscribe to my Youtube channel - goo.gl
XLE -- MARCH 18TH 43/47/60/64 IRON CONDORWith an implied volatility rank of 83 and an implied volatility of 46, XLE represents a good, non earnings premium selling play here.
March 18th XLE 43/47/60/64 Iron Condor
Probability of Profit: 66%
Max Profit: $94/contract
Buying Power Effect: $306/contract
$ES_F $SPY $QQQ - $XLE Daily chartXLE OB on SLO STO daily, but can see continuation up to 60.93 or .50 fib. Then, I expect to take out the lows before mark up. You can see where the VBP resistance level are.
XLE PREMIUM SELLING PLAYXLE Feb 26th 47.5/59 short strangle
POP%: 73
Max Profit: $144/contract
BPE: ~$531
BE's: 46.06/60.44
Energy sector RSI divergence. Let's make a right shoulder Later on the cloud will reject it, but we'll have a strong fomo rally prior.
$XLE - Accumulation at support and DB in playI believe it's time we get long here. Long dated calls targeting the 71.10 area
Potential Aggressive C buy - Harmonics setup towards FOMCThe Head and Shoulders pattern I mentioned on my latest analysis for XLE has reached its final target level and now we have an option for an Aggressive Bullish C entry in a bearish Bat pattern (yellow).
This setup basically means that you buy the C point in what could turn out to be a bearish Bat pattern, aiming towards the D point (near 80$) as longer term setup. The 65-68$ zone must be considered also as target zone as the price should meet the downtrend line there if indeed it'll rally from the 60$ support zone.
Stop loss should be with some safety distance below the A point. In the chart I'm showing an example of 3.5% Risk with potential 10% reward (almost 3 R/R ratio).
Despite the potential bullish setup, we don't know that the price indeed intend to rally towards the D point so there's definitely a good chance that $XLE will continue lower and break below 58$ so you have to consider this risk.
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl
To subscribe to the newsletters - goo.gl
Follow my blog - goo.gl
Subscribe to my Youtube channel - goo.gl
