AMEX:XLF   SELECT SECTOR SPDR TRUST AMEX FINANCIAL SELECT INDEX USD DIS
4373 views
33
4373 6
With a massive squeeze on 4 timeframes (4hr/6hr/1D and 1W), XLF is poised to make a big move (In the chart, blue candles are all TF squeeze candles).

Squeeze release is usually accompanied by a fakeout, so need to be careful there, but based on other momentum indications, good chance of this breaking up. Breaking up that RSI resistance will be a good confirmation.

First target is 25.8 level.
Interesting trading idea
Reply
LOL
+3 Reply
Great chart, again!

Looks like XLF is ready to retest 23 level (& possibly more). Not sure if I am reading your indicator correctly, but the levels you drew on chart are perfect.

+1 Reply
What is the indicator for the COG Squeeze graph that you have? I really like it
Reply
LazyBear scott.joens
Thanks Scott. That is part of my app store package. It shows sqz from multiple time zones. More info here: http://blog.tradingview.com/?p=970
+1 Reply
Would you consider this trade a success?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out