Run Play Choices are Zone, Gap or MAN!
XLF bounced in a big way in Wednesday Trading stopping a multi-week selloff.
On the 4HR I see a Head and Shoulder with a profit target up to 2021 highs.
On the 30 minute I see a double bottom form.
Which leads to a Cup and Handle
Put them all together and you have a solid trading plan to ride XLF up to top of channel.
As these patterns validate or not, I will update the idea with some options ideas for entries and exits along each step.
Follow if you would like to receive updates.
My bias right now is bearish which conflicts with this idea playing out.
Do not let your bias miss a secular trend.
On the 4HR I see a Head and Shoulder with a profit target up to 2021 highs.
On the 30 minute I see a double bottom form.
Which leads to a Cup and Handle
Put them all together and you have a solid trading plan to ride XLF up to top of channel.
As these patterns validate or not, I will update the idea with some options ideas for entries and exits along each step.
Follow if you would like to receive updates.
My bias right now is bearish which conflicts with this idea playing out.
Do not let your bias miss a secular trend.
Extremely Bearish Options flow today.
Nobody is buying, ALL selling calls and puts.