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.
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.
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List of my indicators at Appstore: blog.tradingview.com/?p=970
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List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Related publications
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.