Long XOP? Trend break, double bottom, news and indics agree.
https://www.tradingview.com/chart/OsBXckpZ/
Recent buzz has been growing that XOP could rally so I have been watching it. Almost pulled the trigger at 2:55 - end of option session local time but did not have my head wrapped around it. I do not mind trading quickly but it is easy to make clostly mistakes (how do I know that?) so I try to have it completely clear when commit.
I have published some of the indicators, they all need updating now. Holler in comments with any questions. Thanks and Keep Smiling!
- News: Dollar creeping down, world oil inventories/production and general buzz draws attention so if a crowd will gather I want to be in and out closed before the excitement dies down. Plan with me is -take $ off of the table and limit risk exposure.
- Down trend is broken and just passed a double bottom plus price picked its way through some historical resistance.
- Williams per cent R 21 period with 13 average has signal above average, above mid range and into so-called overbought. The top line color green tells me the
four period Random Walk part of this indicator is greater than 1 positive.
- The Hull MACD is inconclusive in the macd part while trend break is tested but the back colors tell me the Force Index is above zero (bullish) though it just turned light green meaning it went from up slope to down slope - again testing trend and resistance - we will see how this price passes the direction quiz tomorrow :-) .
- Finally got a four time frame Exponential Moving Average pairs ribbon working the way I want. Inputs here default 9 and 15 period exp. moving averages in each of four time frames (here at default 5, 15, 60 and D). Showing here 5 and 15 pull backs - 60 and day advancing. Be interesting to see if price tags along now! This indicator displays a column of 4 circles; top is shortest time frame; color is green if fast moving average is above the slow else red.
Recent buzz has been growing that XOP could rally so I have been watching it. Almost pulled the trigger at 2:55 - end of option session local time but did not have my head wrapped around it. I do not mind trading quickly but it is easy to make clostly mistakes (how do I know that?) so I try to have it completely clear when commit.
I have published some of the indicators, they all need updating now. Holler in comments with any questions. Thanks and Keep Smiling!
- News: Dollar creeping down, world oil inventories/production and general buzz draws attention so if a crowd will gather I want to be in and out closed before the excitement dies down. Plan with me is -take $ off of the table and limit risk exposure.
- Down trend is broken and just passed a double bottom plus price picked its way through some historical resistance.
- Williams per cent R 21 period with 13 average has signal above average, above mid range and into so-called overbought. The top line color green tells me the
four period Random Walk part of this indicator is greater than 1 positive.
- The Hull MACD is inconclusive in the macd part while trend break is tested but the back colors tell me the Force Index is above zero (bullish) though it just turned light green meaning it went from up slope to down slope - again testing trend and resistance - we will see how this price passes the direction quiz tomorrow :-) .
- Finally got a four time frame Exponential Moving Average pairs ribbon working the way I want. Inputs here default 9 and 15 period exp. moving averages in each of four time frames (here at default 5, 15, 60 and D). Showing here 5 and 15 pull backs - 60 and day advancing. Be interesting to see if price tags along now! This indicator displays a column of 4 circles; top is shortest time frame; color is green if fast moving average is above the slow else red.
Trade closed manually:
Closed this on August 4 (was still learning how this idea format works so now buttoning up). My presumption was wrong and if anything it was moving against me. Have been practising this trade and learning better manaagement (thanks to excellent examples here from user @NaughtyPines). Trade was down 22 including comms and fees at close.