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.
註釋
links for options calculator with straddle are on my twitter account SPYvsGME
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。