$XLE Downtrend
已更新
I have wanted to be bullish on the energy sector, but this chart tells me it is in a downtrend. We have a series of lower highs and lower lows. There seems to be some horizontal support around $86. However, that has been violated on the last lower low.
I am terrible at shorting stocks, so I’ll stay on the sidelines unless or until the
XLE puts in a higher low AND breaks above the upper downtrend line. All TBD. (I took a trade on XLE on Sept 16 when it both broke above the horizontal resistance line AND moved above the low set on Aug 5th. I closed it yesterday for a 3% gain as I could see it struggling to get up and over the DT Line.)
Comments always welcome. Thanks for looking.
I am terrible at shorting stocks, so I’ll stay on the sidelines unless or until the
XLE puts in a higher low AND breaks above the upper downtrend line. All TBD. (I took a trade on XLE on Sept 16 when it both broke above the horizontal resistance line AND moved above the low set on Aug 5th. I closed it yesterday for a 3% gain as I could see it struggling to get up and over the DT Line.)Comments always welcome. Thanks for looking.
交易开始
I have opened a 1/2 sized position this morning with a stop just below today's low. Let's see what happens. (Middle East Tension is the reason for the break-out)
交易结束：到达止损
This dipped below the opening range so I closed it for a small loss.
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