XLE Long Daily
Asset Class: Indices
Income Type: Daily
Symbol: XLE
Trade Type: Long
Trends:
Short Term: Up
Long Term: UP
Set-Up Parameters:
Entry: 90.44
Stop: 89.22
TP 93.70 (2.8:1)
Trade idea:
Retest of 1H demand zone formed by a drop-base-rally near the breakout level, SL is a bit lower to cover the deeper RBR structure as the price might test tis liquidity. TP set at the nearest SZ with a 2.8:1 risk-reward ratio. The RSI is oversold.
!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.
Trade management:
**When price hits 1:1 or T1, consider moving stop to entry in case of pullback.
**Disclaimer**:
The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
Income Type: Daily
Symbol: XLE
Trade Type: Long
Trends:
Short Term: Up
Long Term: UP
Set-Up Parameters:
Entry: 90.44
Stop: 89.22
TP 93.70 (2.8:1)
Trade idea:
Retest of 1H demand zone formed by a drop-base-rally near the breakout level, SL is a bit lower to cover the deeper RBR structure as the price might test tis liquidity. TP set at the nearest SZ with a 2.8:1 risk-reward ratio. The RSI is oversold.
!!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry.
Trade management:
**When price hits 1:1 or T1, consider moving stop to entry in case of pullback.
**Disclaimer**:
The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
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