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XLF FAS Trade Entry

FAS (3x Bullish Financial Sector ETF) will be added as an Active Short Trade here on the break below this 30-minute bearish rising wedge pattern. The basis for this trade has just as much to do with developments on the daily time frame for the sector (via XLF) although this 30-minute wedge breakdown helps to confirm the near-term bearish case for the financial sector as well as provide an objective entry. The two near-term price targets for a short trade on FAS are shown on the 30-minute chart below. The suggest stop for this trade is any move above 27.63.


I have opted to short FAS (and posted doing so earlier today in the trading room in advance of this wedge breakdown) as this trade may quite likely be extended into a multi-week or even multi-month swing trade. If so, the decay suffered from 3x leveraged ETFs like FAS would benefit a short position whereas a long position in FAZ (3x short financials etf) would likely suffer from that decay. For those that can't short FAS, an XLF short or SKF (2x short financial sector ETF) might be viable options.

Apr 21, 2016 2:10pm|Categories: Completed Trades - Short|Tags: , |7 Comments

7 Comments

  1. Profile gravatar of yaya
    yaya April 21, 2016 2:52 pm at 2:52 pm

    Great charts, is there any way to enlarge?

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  2. Profile gravatar of rsotc
    rsotc April 21, 2016 3:54 pm at 3:54 pm

    @yaya– I recall you asking that a couple of times before but not sure if you saw my replies to your question. Are you viewing the charts on mobile or desktop? When any of the charts are clicked on while viewing on a desktop, they will expand to the original size (which is quite large & captured in high-resolution), unless your monitor is too small, in which case it will be resized.

    To view the charts on a computer, click on the first chart & it will expand to a full size, high resolution image. If there are multiple charts next to each other, after expanding the first chart, you should see arrows located at the right & left of the page. Click on the right arrow to advance to the next expanded chart.

    To view on a mobile phone or tablet, click the chart to expand & then you will be able to pinch to zoom. Please let me know if this is not what you were referring to or if you are experiencing any issues viewing the expanded images.

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    • Profile gravatar of snipertrader
      snipertrader April 21, 2016 9:58 pm at 9:58 pm

      @yaya – If you try to click on the chart itself in the thread it does not pop open in a window for me either. However, if you really want to get to the content behind the post, be sure to click on the cannot click on the hyperlink entitled “XLF FAS Trade Entry” within the header section of the post. That will get you to the full content of the trade setup and all the related charts where you can click them to pop open into their own enlarged window. Once in the pop up window however, zooming is not a feature any longer. Not sure which one of these two aspects you were struggling with though.

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  3. Profile gravatar of snp
    snp April 21, 2016 11:36 pm at 11:36 pm

    @rsotc fyi the charts posted by you in the trading room have not opened for me for about 2 weeks. if I click on the post title, it takes me to another page where the charts are able to be enlarged and viewed in sequence. I am able to click on and enlarge charts posted by others. hope that helps.

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    • Profile gravatar of rsotc
      rsotc April 22, 2016 9:56 am at 9:56 am

      snp- I believe that you are likely referring to the thumbnail (small) image that is included with the excerpt from the front page posts. If so, those chart images don’t expand. To clarify, when I make a front page post, it will also show up in the trading room with a title like this: “rsotc wrote a new post, TGP Trade Entry With Price Targets 2 minutes ago”, where as a post that I or anyone else makes in the trading room would read like this: “rsotc posted a new activity comment 18 hours, 24 minutes ago”.

      Images that I include in the trading room posts should expand to full size when clicked but to view the charts from front page posts that show up in the trading room, you must click the link located within that title, which will then take you to the front page post. If that is not the case & you are still having issues opening my trading room posts, please let me know & I will look into it asap. Thanks.

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  4. Profile gravatar of yaya
    yaya April 22, 2016 2:40 pm at 2:40 pm

    @rsotc hey sorry, I didn’t see your replies to my earlier questions. Anyhow, I think I figured out the issue! When I click on the chart, it opens up to a small window pop-up. I have a 15″ laptop running Windows 7 but the chart only goes to less than half the screen, kinda small. Does not expand to full size. Its only when I look to the top left corner where there’s an “X” and “square”, that if I click the square, it finally expands to real size. Didn’t realize it’s that tricky! But now I know, thank you, I won’t bother you anymore with zooming questions.

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    • Profile gravatar of rsotc
      rsotc April 22, 2016 2:51 pm at 2:51 pm

      yaya- I promise that it is no bother. In fact, if you have that question, which was certainly valid, I’m sure others do as well. I figured that you might have missed those two other replies & just wanted to let you know that I didn’t miss or ignore your previous questions.
      For future reference, when someone replies to a post or comment that you made, you should receive a blue notification icon located at the upper-right hand corner of the site next to your username when you are logged on. Hover on that icon & the a link to the reply (or replies) will appear below. Thanks for sharing that tip for viewing the images on a laptop as I wasn’t aware of that issue.

      -Randy

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