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TradingBandito06
Feb 6, 2023 11:58 PM

XME - Long with RAF Extreme and 21 Prop - Likely 2/7/23 Only Long

SPDR S&P Metals & Mining ETFArca

Description

G/G trend with RAF above Extreme means buy between 13/21 Propulsion/Moving averages.
Need a pullback between MA with RAF above Extremes. If RAF dips below extreme, we will change to a minor low breakout buy.

21/34 Prop dots
Volume Profile in this area.
Vscore support in this area.
Aggressive Buy.

Buy @ 56.30
B/E @ 57.20
Profit @ 58.50
Stop Loss @ 25%.

17March23 56 Calls have 594 Option Interest. So, watch the spread when you buy on the pullback.

Comment

Missed this move today due to work.

RAF is still > Extremes. May try to buy again on a pullback tomorrow.

Order cancelled

Decided to pass on this trade and focus on Starbucks/XLB. Trade is showing weakness and desire to test old volume support levels. I'll look for a minor high break if it sets up.

Comment

Decided to pass on this trade, but all Miners turned around. Could've purchased a successful Minor Low. Too many trades felt overwhelming. Too many 25% losses.
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