XLU is ranging around $46-$47 right now and developing a shampoo pattern (head & shoulders) on the 1 Year chart. I sold a straddle and I'll get out as soon as I can.
Each support and resistance has a roughly twin shoulder going back to Feb.
Temporarily neutral to allow the formation to develop.
Each support and resistance has a roughly twin shoulder going back to Feb.
Temporarily neutral to allow the formation to develop.
Trade closed manually:
Closed early. Don't like today's breakthrough.