SXL Potential good opportunity Would only be interested in opening a position once price reclaims the grey box. Nothing complicated.
SXL
SXLFlipped resistance into Support right below a LTF range high
Above range and looking for target marked on the chart.
If it gets above the range high and then back under, its a quick short back into the LTF Mid range as a target back to the 2022 Yearly CLose.
Do not want to see it trade below the 2022 Yearly close or its starting to look like Goblin town.
A DXY Rip might see this setup trap longs then fail.. caution is best if DXY starts to gather momentum.
SXL - Trade PlanSXL has managed to close back inside the Parallel Channel with the lower end of the channel as strong support. The recent bounce off and High Volume suggests it may move higher. I am targeting the POC of the Volume Profile at $2.35 as my TP (potential 10% gain) with a tight stop below the recent swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
