XLE and BPENER

    Posted by matt on 4th of Jan 2013 at 10:37 am

    I posted this message on the trading community blog earlier today regarding XLE and the system - please read below. 

    Also I made a quick video click here to watch - the system is taking a long today, however make sure to read my comments below and watch the video as I discussed a trade entry on the weekend and Monday when XLE had pulled back 61.8%

    Have a nice weekend!

    ------

    XLE - Chart Link - if the BPENER closes here or higher, it will have a confirmed crossover of the 9 EMA and the system will go long.  My only problem with this is buying it after this move, because last Friday was the low risk day or Monday morning when it had pulled back to just above the 200 MA.  On the XLE system I use the 61.8% Fib pullbacks a lot to for filters choosing not to take a trade or lower risk entries. Last Friday the XLE pulled back to almost the 200 MA and 61.8% Fib while the BPENER was still above the 9 EMA, that provided a low risk long entry, which I pointed out on the weekend and on the blog on Monday - however it was Monday morning that I said you could try a low risk long on XLE with a stop below the 61.8% Fib

    XLE - Chart Link - here is the 60 min chart - Monday morning when XLE was down some before rallying, I noted that XLE had retraced basically 61.8% of the move off the lows and was a lower risk entry with a stop below that 200 day MA or 61.8% Fib.  That was the low risk time to buy, here's a link to that post

    http://breakpointtrades.com/blog/post/213771/

    I'm sure some of you saw this but I apologize that I didn't send an alert on that or send an XLE system alert email - I will focus on situations like that more closely in the future

    thanks Matt, looks primed for a 6-7% run from here.

    Posted by morton13 on 4th of Jan 2013 at 11:19 am

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!