Existing Condition:
1. Downtrend line was broken by breakaway Gap (G1). Start a new trend.
2. Gap Up above SMA50
3. double bottom reversal pattern confirmed Weekly demand zone in 11/28/2003;
4. 0.5 retracement,
5. Demand Zone,
6. price droped below 27.1, and back to above 27.8 (above SMA8)
Entry above (SMA8) 27.7 and below 28.5
Stop below (SMA8) 27.5
Target 33.5
Risk/reward=1:6
According to my yesterday' XLE analysis, I created this plan;
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
1. Downtrend line was broken by breakaway Gap (G1). Start a new trend.
2. Gap Up above SMA50
3. double bottom reversal pattern confirmed Weekly demand zone in 11/28/2003;
4. 0.5 retracement,
5. Demand Zone,
6. price droped below 27.1, and back to above 27.8 (above SMA8)
Entry above (SMA8) 27.7 and below 28.5
Stop below (SMA8) 27.5
Target 33.5
Risk/reward=1:6
According to my yesterday' XLE analysis, I created this plan;
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Note
In my real trade, I bought XER Jul C15, limit 0.8; XLE pull back too fast. Other ERX, ERY orders could not be filled.Trade active
Correcion: I bought ERX Jul C15, limit 0.8; Not XER.Trade active
More orders filled ERX Jul C16, limit 0.5; Still many pending orders. :)Trade closed manually
SellToOp ERX C17 limit 0.8 and limit 1.00 , Hold C15/17 and C16/17, and got little profit. This is a winner.
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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.