Get started
VaulTradeous

Gaps up into long term Resistance

Short
The Communication Services Select Sector SPDR Fund (AMEX:XLC)  
VaulTradeous Updated   
AMEX:XLC   The Communication Services Select Sector SPDR Fund
Chart Patterns Trend Analysis Technical Indicators ETF shortsetup Contains IO script
0
0
chartpattern trendanalysis indicator etf shortsetup containsioscript
Gaps are for buying and selling right? Well, this gap is right into a 52 week resistance level, with all 6 timeframes decently overbought. Looking short here with first target at 75. This thing moves slowly so i'll revaluate whenever we get there. A move to 77 would not be ideal, allowing for a potential break and bounce of this POC level, giving some potential to longer-term continuation.
Trade closed: stop reached:
Very little resistance at that 76.75 level. We have already moved to the upper end of this volume zone and I will not be shorting this again until we get a significant change.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.