The XBI (biotech sector ETF) short swing trade setup from last week has triggered an entry on the break below S1 (trendline + 97.90 price support). Support levels were correct on the previous (9/27) chart although I had skipped one & mislabeled the price targets which have been corrected here. Previous (Sept 27th) followed by the updated daily chart below with the corrected price targets and maximum suggested stop (if targeting T4 or T5) below.
XBI-daily-Sept-27th
XBI daily Oct 2nd
As the biotech stocks are more volatile than the broad market, the suggested beta-adjusted position size for this trade is 0.85-0.90 or 0.30 if using LABD (-3x short/bearish biotech ETF).