Clicky

XBI 60-minute Trend Indicators Now Bearish + Trade Update

While I plan to leave 60.10 as the sole & final target for XBI/LABU for the time being, with the 60-minute trend indicators recently flipping to bearish, one might opt to lower stops & hold out for either of these two additional potential targets.

XBI 60-min Aug 11th

XBI 60-min Aug 11th

With that being said, should each (or most) of the Big 5 leading stocks in the Nasdaq 100 break down below their respective 60-minute trendlines that were posted here yesterday, then I may decide to extend the price targets on the XBI/LABU Active Short Trade. At this point, the suggested stop will be lowered from any move above 64.35 to the entry price of 63.34 to assure at least a breakeven on the trade (stop on any print of XBI 63.34 or the equivalent price in LABU at the time, should XBI hit that stop level).

1+
Aug 11, 2016 11:12am|Categories: Completed Trades - Short|Tags: , |2 Comments

2 Comments

  1. GetItRiight August 11, 2016 11:38 am at 11:38 am

    Randy, slight typo in the target, should be 60.10.

    0

    • rsotc August 11, 2016 3:02 pm at 3:02 pm

      Thanks GIR. I corrected the typo in the post & on the chart (where I had previous cut & pasted the typo from). Price target remains 60.10.

      0

Comments are closed.