$XLE - Daily Chart (Short IT)I think it's time to short it here. Into R2 and approaching the 1.618 fib ext. CL_F is about to tank.. Only reason for run up here.
Buy May $62P's
XLE trade ideas
Energy filled gap and then reversed50 day moving average still supports an intermediate trend of up.
Energy sector at key level This could be setting up for a nice swing trade over the next few weeks/months. Keep an eye on any further breakout and consolidation above shaded rectangle and 50 day moving average in orange.
Approaching daily sell zone63-64$ 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
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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 $XLE declines to levels that will allow me to buy it before the price's next bullish wave.
Tomer, The MarketZone
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$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
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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
