The bears are waltzing on this one.
I've made 8 charts using tradingview exploring the bearish indicators and chart patterns on XLE. Since I do not know a clean way of publishing them without cluttering the XLE search I just quickly made a blog and wrapped them up in a post here.
dashbridge.blogspot.com/2014/01/xle-bearish-analysis.html
Among some of the other patterns provided by other TradingView users, I believe I also see a leading diagonal triangle Elliot Wave. I am not highly familiar with Elliot Wave theory and would appreciate any additional comments pointing out the possibilities of these waves.
This diagonal triangle is the very rare 5-3-5-3-5 pattern. Meaning all upward waves contain 5 waves within themselves, while the corrective waves contain the three a-b-c patterns.
The target associated with a leading diagonal triangle is very deep. A 78% retracement from wave 1.
I would greatly appreciate any discussion on this idea, thanks!
Leading diagonal triangle information here-
thepatternsite.com/EWleadingTriangle.html
*** Edit, I also put in "Wolfe's Wave". The EPA describes the expected price retracement at the time it hits the green line.
I've made 8 charts using tradingview exploring the bearish indicators and chart patterns on XLE. Since I do not know a clean way of publishing them without cluttering the XLE search I just quickly made a blog and wrapped them up in a post here.
dashbridge.blogspot.com/2014/01/xle-bearish-analysis.html
Among some of the other patterns provided by other TradingView users, I believe I also see a leading diagonal triangle Elliot Wave. I am not highly familiar with Elliot Wave theory and would appreciate any additional comments pointing out the possibilities of these waves.
This diagonal triangle is the very rare 5-3-5-3-5 pattern. Meaning all upward waves contain 5 waves within themselves, while the corrective waves contain the three a-b-c patterns.
The target associated with a leading diagonal triangle is very deep. A 78% retracement from wave 1.
I would greatly appreciate any discussion on this idea, thanks!
Leading diagonal triangle information here-
thepatternsite.com/EWleadingTriangle.html
*** Edit, I also put in "Wolfe's Wave". The EPA describes the expected price retracement at the time it hits the green line.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.