XLF megaphone top to be completed.I believe right now we are in the 3rd of the 5th. There is still a bit to run for this ticker. Sell overshot double top in the coming weeks.
XLF trade ideas
XLF looking like a good long position here as a short bond proxyIf you expect an uptick in inflation like I do in the US, the Financials could be a good way to play this.
With USD down more than 10% this year, commodities having risen by more, and continued labour market tightness, inflation could surprise to the upside over the next few months and $XLF could be the proxy to play this, rather than being short bonds - which is something I don't like to do due to the negative carry. This trade could also complement a long position in USD/JPY.
Potential DVG + LVL-key level since Dec.
-deltas: not below the rectangle - momentum strong for bears, bulls want a pivot move
XLF bear count. Worth watching?I'm actually bullish on stocks but this count might be worth watching.
XLF(daily chart). EW5, Ending diagonal ,Geo complete at Support.XLF(daily chart). EW 5, Ending diagonal , Geo complete, at Support.
XLF Financials looking for a decent short area. Potential Sell Target and following Buy target marked on Chart.
Head and shoulder topping pattern in XLF ?The inversed H&S pattern in '15-'16 worked quite well. Will the current one work as well? Wait for a confirmation, i.e. break of the neckline, before betting the farm.... actually even then, don't go all in. :)
7.24.17 | XLF | Bullish trend shaping up.XLF - Is on the rise to break out of a very slight downward channel. A close above $24.93 will indicate a high probability of a bullish trend breaking out. The Rally is already starting to fan out and the Ichimoku Cloud is very bullish. The cloud thickening is a strong sign that price will continue at it's current rate of increase and the bullish trend is sustainable.
important for the whole marketXLF touching the 63 quaterly VWMA
at first it was rejected but the candle doesnt look nice
XLF potential bearish engulfing pattern forming.The XLF was off to the races this morning as the longer-dated maturities of the yield curve sold off, increasing the spread captured by banks who borrow-short and lend-long. In the middle of the day a key reversal occurred, setting us up for a bearish engulfing candle. This chart pattern is a rally above the previous day's high and a close below the previous day's low, and has a high probability of follow-through selling.
XLF shows negative divergence with bearish wedge Here the XLF daily chart: with a negative divergence and a bearish wedge we are on the apex of a potential negative drop. A break of the bearish wedge will be a problem for the bulls
Short FinancialsChart is fairly self explanatory. Target on the HVF has been met and price action now looking toppy with dollar collapsing. Financials need to retrace to 23.5 at the very least, although would expect more depending on rate hike narrative
XLF(daily chart). Possible break Sell at resistance.XLF(daily chart). Possible break Sell, at resistance.
At horizontal resistance.
Double Top.
Possible Weekly Elliott Wave, Triangle measured target.
At Fib confluence, 1.618 extension, daily Bat, 1.272 projection, 0.786 weekly retrace.
Weekly hammer.
Interesting areas of disconnectNote the complete disconnect between DXY and the run up in financials as of late. UJ performance is marginal and XAUUSD has been acting bearish. Would lead me to infer that DXY troubles are not related to FOMC forecasts and instead more euro-based. This would support the notion that XAUUSD is setting up to take a dive lower as a correction.
Secondary interesting note is that the XLF finished it's big move last november almost 5 days prior to all currency pairs and metals.
