LazyBear

XLF - Squeeze release soon

Long
AMEX:XLF   SELECT SECTOR SPDR TRUST
6828 views
48
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.
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Comments

LOL
+6 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
Interesting trading idea
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
+2 Reply
Would you consider this trade a success?
Reply
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