The chance is high that we are printing an island reversal today in XLE.
Yesterday a lot of players stopped out in ERX and XLE as we broke to new lows.
I think it was only a final shakeout before the next rally.
If we have a gap open today and the gap is not filled we are printing an island reversal . It would be a very strong bullish pattern in XLE and ERX.
This could sign a long term bottom in XLE and ERX. It is important that the gap should not be filled. In this case it's a runaway gap which might never get filled.
LONG follow through idea
Yesterday a lot of players stopped out in ERX and XLE as we broke to new lows.
I think it was only a final shakeout before the next rally.
If we have a gap open today and the gap is not filled we are printing an island reversal . It would be a very strong bullish pattern in XLE and ERX.
This could sign a long term bottom in XLE and ERX. It is important that the gap should not be filled. In this case it's a runaway gap which might never get filled.
LONG follow through idea
Nota
Gap is still open...Nota
Chart the XLE and not the ERX...
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.