Today made a strong move off the 62.50 support, which is what I was watching for. The daily strength is gaining momentum as is the weekly. Place an order just over the high of the day. But, the price is close t ATH and overbought conditions so only buy 20%.
XLE closed with no gain below it’s resistance, but hard to tell if it confirmed or rejected yesterday’s potential reversal candle. Meanwhile, AES closed lower again on consistent volume. Remain watching for XLE reversal confirmation, or AES retest of broken support at 23.50.
Looks like the low of yesterday was the mentioned retest of the pivot. Today made back most of the losses and closed back over the 18.50 resistance. The volume could have been higher, but was still relatively high. Place a 40% order just above today’s close.
I should have closed it yesterday when that upper wick and down day showed further rejection.