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XLE trade ideas

How to Straddle an Ascending TriangleFor info on Ascending Triangle, check out my previous AMZN chart. XLE consolidated 2 weeks prior to form an Ascending Triangle on the 4hr chart. The 2 week period at the end of July XLE gained 20% . This sets up a Great risk/reward around a sector with NG on the move. Don’t count out the oil bull either. While markets were bearish overall, XLE was on a 60% top before June. Falling Energy gave way to lower inflation prints in June and July. I can see XLE going to June high of 93 to form a cup and handle. More on that in my next XLE idea.
AMEX:XLELong
by SPYvsGME
3
XLE Energy Sector approaching ATH. Options play with CushionWith energy prices continuing their rise due to global shortages and war, XLE has climbed over 50% YTD. The potential upside to all-time highs, along with the intact trend since March of 2020 are enticing. It might be harder to take on a position after a 100% YoY increase and not feel like its FOMO. So, I look for options to enter with a bullish outlook but protect from downside volatility. Using a custom options strategy we can build in a 23% cushion ($65.38) and still capture all the upside to the ceiling ($89.13). Using this strategy, it’s possible to make up to 9% ( 15% annualized ). Start to lose only if XLE falls by more than 22% to below $63.58 as of 03/31/2023 . Option Order Buy 1 $82 call Sell 1 $87 call Sell 1 $64 put Exp 3/31/23 Required to invest: $6,362.98
AMEX:XLELong
by oliveinvest
Where I would buy more puts on XLEHello friends. We posted earlier about why the energy sector was probably the Greatest Short Of All time. Did anyone join us for shorting? We made a *lot* of money. But now it might be time for a brief bullback, before going much lower. Let's see if we can reload some more puts after that happens. Thanks for playing, and to the guy who kept taking a crap all over me for me idea, maybe save your money next time and listen to the autistic trading savant rather than yourself. GG.
AMEX:XLEShort
by bowtrix
41
XLE breaks TL but holds vol profile zone(75-77); is 71 or 65 nxtUpdate on my last post that XLE energy sector must hold the red trendline at 79. BEARISH CASE shortterm: On Thursday it broke not only the TL but also broke below my yellow consolidation box.(middle one). As of now it is holding the volume profile zone at 75 to 77 area. Looking at the heavy selling volume in all sectors, a double bottom at 71 is very probable. 76.70 is the 0.618 Fib level while 71 is the 0.786 Fib. Worse, we may even see a retest of the blue wedge at the 65 pivot line. That will be a 100% retracement back to the Feb 24 invasion low. (It broke out of the blue wedge & retested it last Jan 2022 & proceeded to make a measured 10 points move to 82 & then another 10 points move to 92) Still BULLISH longterm: If XLE bottoms out at the current volume profile zone & reclaims the red trendline in the next few days, we may see a retest of 92 or maybe even push another 10 points higher to 102. You may ask if that is still possible with a slowing economy? Bear markets on average starts 5 months before actual recession (2 consecutive Quarters of negative GDP). We are now at the 5th month but employment & production & consumption numbers still suggest recession is still far out maybe in 2H2023. Either we are in uncharted territory with a prolonged bear market or maybe we will see another melt-up rally first before recession kicks in. This will be possible if inflation & rates slow down with the FED pivoting to less hawkish stance in September after the already priced-in June & July 75 basis point rate hikes. Note: A slowly rising dollar will not be good for commodities like oil, food, industrial metals & gold but it will help cushion the bad effects of inflation on buying power…good for imports but bad for exports. Not trading advice. Pls like & follow if this helps!
AMEX:XLELong
by xtremerider8
Is $XLE making a bearish ascending wedge?It seems like the Energy sector ETF $XLE is making an ascending bearish wedge. It's showing lots of resistance around the $82.9 area and hasn't be able to close above it for the past ~2weeks. I wouldn't be surprised if it has a fake breakout to the upside before eventually falling back inside the wedge. Keep an eye out for a break to the down side as the measured objective would be around the $64.7 area. I'm neutral for the time being but keeping a close eye on this for a bearish reversal.
AMEX:XLE
by HaseebKhan_90
8