How to Straddle an Ascending Triangle

2022년 8월 24일

For info on Ascending Triangle, check out my previous AMZN chart.

XLE consolidated 2 weeks prior to form an Ascending Triangle on the 4hr chart.

The 2 week period at the end of July XLE gained 20% .

This sets up a Great risk/reward around a sector with NG on the move.


Don’t count out the oil bull either.


While markets were bearish overall, XLE was on a 60% top before June.

Falling Energy gave way to lower inflation prints in June and July.

I can see XLE going to June high of 93 to form a cup and handle.

More on that in my next XLE idea.

2022년 8월 24일

노트

links for options calculator with straddle are on my twitter account SPYvsGME