In this blog, I want to share with you some Elliott Wave charts of XLY ETF which we presented to our members last month. You see the 1-hour updated chart presented to our clients on the 12/18/18. XLY had a Bearish sequence suggesting more downside at that time.
XLY ended the cycle from 12/12/18 peak in red wave A at 12/17/18 low (98.96). Above from there, we expected a bounce to occur in red wave B. The bounce unfolded in an Elliott Wave Double three correction structure. We advised members that XLY should continue lower and that we wanted to sell the ETF. Therefore, we expected sellers to appear in the sequences of 3, 7 or 11 swings. At the 100 – 1.618 Fibonacci extension of black ((w))-((x)) which came at around 102.31-103.87 area and that was the first area for selling the ETF for us.
XLY 12.18.2018 1 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart. You can see that the ETF reached the blue box area. So we opened a short position at the blue box (102.31). Immediately the ETF reacted perfectly lower. Any trades from our blue box area shown in the chart above were risk-free, which means the stop-loss should be moved to break even, and the ETF even hit the minimum target which produced a fast gain for our members and us. The minimum target was the equal legs of the blue wave (W)-(X) which came at 96.53-90.78. Please keep in mind that the 1-hour chart which I presented has changed. This blog should just illustrate how accurate our blue boxes are, and how our members trade our 3-7 or 11 swings strategy.
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XLY 12.20.2018 1 Hour Chart Elliott Wave Analysis
I hope you liked this blog and I wish you all good trades. And for all who are interested in learning more about our unique blue box areas and also want to trade profitably in 2019 those can sign up for our New Year promotion today and get 30% Discount on ALL monthly plans!!
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