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XBI LABU Trade Setup

XBI, biotech etf (or LABU, 3x bullish biotech etf, my preferred trading proxy) will trigger a short entry on any move below 63.35. T1 (current final target) is 60.10 with a suggested stop above 64.35.


note- by the time that I was able to annotate & upload these charts & composed the post, XBI went on to trigger the aforementioned entry & is now an Active Short Trade. This setup was also posted (unofficially) in the trading room last week.

Aug 8, 2016 10:25am|Categories: Completed Trades - Short|Tags: , |3 Comments

3 Comments

  1. Profile gravatar of Eric K
    Eric K August 8, 2016 12:06 pm at 12:06 pm

    Randy, where would you place the LABU stop?

    0
  2. Profile gravatar of rsotc
    rsotc August 8, 2016 12:44 pm at 12:44 pm

    Eye-balling the charts, LABU stop would be on a move above 46.75, which would come in a hair above the comparable suggested stop of 64,35 on XBI.

    0
  3. Profile gravatar of dan123
    dan123 August 8, 2016 2:29 pm at 2:29 pm

    Thanks Randy for the updates

    0

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