$XBI Breaking Out of Downtrend Line?

8 thg 10

I have put on a ½ size position in “anticipation” of a reversal. I have been in and out of the XBI trade several times over the last 2 months. Overall, I have made a small amount of $$$ on several trades.

It looks like it may be in a pennant formation. We will not know that unless it continues upward from here. I have a tight stop on this just below yesterday’s low of $95.92.

Let’s see what happens.

8 thg 10

Ghi chú

Here is a 10 minute chart and the catalyst for my trade.

8 thg 10

Giao dịch được đóng thủ công

Closed this with a very small loss. Did not want to hold over night with no cushion. Original idea is still valid for now. Back on watchlist.

9 thg 10

Ghi chú

XBI continues to disappoint as it is and has been for a few days, below the 5 DMA. The positive for today is that (so far) it is above today’s AVWAP. However, it is also below yesterday’s and Monday’s AVWAP.
It is still on my watch list with an alert set at $97.20 as it recovers (if it does) the 5 DMA. Let’s see what happens.

15 thg 10

Ghi chú

I have just brought XBI up to a full size position.