Comments on: Revising First Price Target On XLF To Current Levels https://rightsideofthechart.com/revising-first-price-target-xlf/ Stock Trading, Investing & Market Analysis Tue, 24 Mar 2020 17:02:40 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/revising-first-price-target-xlf/#comment-14562 Tue, 24 Mar 2020 17:02:40 +0000 https://rightsideofthechart.com/?p=198936#comment-14562 FYI- I added the following comments to this post as I rushed to get the post & charts published asap, just in case XLF does reverse just shy of the previous/original T1 level: “This provides a quick 4.1% profit on the trade for those opting to book profits here. Should XLF pullback from at or near current levels, the next objective entry or re-entry (for those booking profits here) might come on a backtest of the trendline or test of the top of today’s gap.”

Again, based on many factors, I decided to revise the first price target & book the quick profits with one of the many reasons being that I suspect too many eyes are targeting that 19.88ish resistance level & when you get a big move in a trade up to a very obvious resistance/target level, it is not unusual to see the longs to book profits a bit early and/or the shorts to step in a bit early as well.

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