Clicky

XLV Trade Setup & Entry

XLV (Healthcare ETF) offers an objective short entry here following the recent wedge breakdown & backtest + divergent high. Although additional price target might be added, depending on how both this trade & the broad markets trade going forward, at this time the only two price targets are T1 at 69.20 & T2 at 68.66. The suggested stop for this trade is any move above 73.40, thereby providing a R/R of 3.2:1 to the first target and 3.74:1 to the second price target. Props to @riverbirch in the trading room for putting XLV back on my radar (I had recently highlighted it as one of my top picks for bearish/short sectors).

XLV daily June 8th

XLV daily June 8th

0
Jun 8, 2016 11:12am|Categories: Completed Trades - Short|Tags: |Comments Off on XLV Trade Setup & Entry