again you can't say it's bottomed yet. now here's a 60 min
chart, it was a low risk buy at the retest of the lower trendline
this morning, but your stop would also go there too and you could
get stopped out if the bounce fizzels. trading is about
probabilities not absolutes.
otherwise I would like to see price build and break out of that
channel on the daily ideally gap out of it. otherwise price
may bounce here like it's doing then ultimately sell off again and
test the Mar lows
it might but also realize that the Mar lows are not pretty
close, so it may want to ultimately do a double bottom test of that
area who knows. If you go long have a tight stop.
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Where is the bottom of
Posted by fredsaid on 2nd of Oct 2020 at 11:16 am
Where is the bottom of the channel on XOM ? I'm thinking it might be a good play at the bottom of that channel.
it is a buy here
Posted by fundamentalvalues on 2nd of Oct 2020 at 11:24 am
it is a buy here , 25 RSI is amazing. I like XLE on the whole for a swing trade
again you can't say it's
Posted by matt on 2nd of Oct 2020 at 11:29 am
again you can't say it's bottomed yet. now here's a 60 min chart, it was a low risk buy at the retest of the lower trendline this morning, but your stop would also go there too and you could get stopped out if the bounce fizzels. trading is about probabilities not absolutes.
otherwise I would like to see price build and break out of that channel on the daily ideally gap out of it. otherwise price may bounce here like it's doing then ultimately sell off again and test the Mar lows
Thanks Matt!
Posted by fredsaid on 2nd of Oct 2020 at 12:56 pm
Thanks Matt!
it might but also realize
Posted by matt on 2nd of Oct 2020 at 11:23 am
it might but also realize that the Mar lows are not pretty close, so it may want to ultimately do a double bottom test of that area who knows. If you go long have a tight stop.