Just a quick look. Ascending triangle perhaps failure is near. Or breakout. It seems to be breakout but we will see which comes first. Short biased
If resistance holds we come back down to the bottom of the channel simple.
I made a good trade to the short side sold early yesterday now back in calls for now looking at a 30 min chart and similar pattern as before. Gap down run up
we should go right back up to resistance again the gree line. We bounced off the blue line and as you can the oct 19 low to 2020 Hi we bounced at the 1.618 retracements and recently bounced off the 100%. Trying to do the same thing now
Second trade on XLE's uptrend will see where we sell
I feel like you study and study and study a chart and sometimes you start to see things you haven't seen before. that's 14 touches on that lines in a little over a month. More of an observation than anything.
Bullish long term, but we need to get through some more fear first. COVID