How to Straddle an Ascending Triangle
For info on Ascending Triangle, check out my previous AMZN chart.
XLE consolidated 2 weeks prior to form an Ascending Triangle on the 4hr chart.
The 2 week period at the end of July XLE gained 20% .
This sets up a Great risk/reward around a sector with NG on the move.
Don’t count out the oil bull either.
While markets were bearish overall, XLE was on a 60% top before June.
Falling Energy gave way to lower inflation prints in June and July.
I can see XLE going to June high of 93 to form a cup and handle.
More on that in my next XLE idea.
XLE consolidated 2 weeks prior to form an Ascending Triangle on the 4hr chart.
The 2 week period at the end of July XLE gained 20% .
This sets up a Great risk/reward around a sector with NG on the move.
Don’t count out the oil bull either.
While markets were bearish overall, XLE was on a 60% top before June.
Falling Energy gave way to lower inflation prints in June and July.
I can see XLE going to June high of 93 to form a cup and handle.
More on that in my next XLE idea.
Not
links for options calculator with straddle are on my twitter account SPYvsGME
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.