XYL seems breaking down underneath Resistance, and seems forming a flag formation. Downward volume is increasing & moneyflow is going down as well. We think if it can break below $46.63 it can go all the way down to $40 area.
* Trade Criteria *
Date first found-February 9, 2017
Pattern/Why- Resistance breakdown, Inverted flag formation
Entry Target Criteria- Break of $46.63
Exit Target Criteria- $40.63
Stop Loss Criteria- $49.13
(Note: Trade update is delayed here.)
* Trade Criteria *
Date first found-February 9, 2017
Pattern/Why- Resistance breakdown, Inverted flag formation
Entry Target Criteria- Break of $46.63
Exit Target Criteria- $40.63
Stop Loss Criteria- $49.13
(Note: Trade update is delayed here.)
Note
February 21st- Went up & tested MA20, Did not hit our entry yet, and not showing any weakness. However keeping in watchlist for few more days.
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Check out some of our free video examples @ smartmoneytrading.com/insights/
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.