As for XLF, I'd prefer to have entered a call (as was opened yesterday) in XLF on downside momentum although there's not a huge difference in price, it is a bit green right now. FAS is a 4x long Financial ETF, it doesn't have the same problems options pricing can produce as they are calculated on the Black Scholes model.
In any case, here are ALX, FAZ which is the 3x short or opposite of XLF and FAS and FAS charts.
XLF/Financials intraday
XLF 2 min, the 3rd and 4th/5th are the areas that would show accumulation as a head fake move.
XLF 10 min
Next is FAS, IT IS A 3X LEVERAGED ETF OF FINANCIALS, BUT SHOULD HAVE SIMILAR SIGNALS. Not everyone that trades XLF will trade FAS or vice-versa, but the general trend should be similar for confirmation.
FAS 2 min, the same dates of the 3rd, 5th and 6th apply.
FAS 5 min
FAS 10 min
FAZ is the opposite of FAS and the 3x leveraged opposite of XLF so it should have almost mirror opposite price as well as 3C trends.
FAZ 2 min, the same dates still apply, instead of positive divergences, negative divergences would=confirmation.
FAZ 5 min
No comments:
Post a Comment