swinger
Long

XBI is running into head & shoulder pattern

AMEX:XBI   SPDR S&P BIOTECH ETF
2 months ago
lets form the Right shoulder, it is good opportunity to scalp a long to 64.24 which happens to be in the clones level. Watch closely to see there is no further decline over neckline.
2 months ago
Comment:
snapshot
looks every time when RSI dip to around 30, the bottom is formed. Finger crosssed, watch Monday closely.
2 months ago
Trade active:
snapshot
$SRPT pulled this down somemore, $SRPT did mess the $XBI chart, but I am ignoring the neckline violation. The h4 hammer was a good sign to long. Trade with caution.
2 months ago
Comment: technically we are still at the neckline, closed my position. will re-enter if it clear 60.81
a month ago
Comment:
snapshot
bottom build is in progress, this might resume the right shoulder build. Watch closely.
a month ago
Trade closed manually: This not valid for the moment, could be sideways, caution and keep an eye on it
a month ago
Comment: this could be a perfect reversal signal
snapshot
a month ago
Trade closed manually
ice_holly01
2 months ago
Good chart!
Reply
swinger ice_holly01
2 months ago
Thanks.
Reply
archie123
2 months ago
Nice chart. Be nice if the retrace started on Monday -- namely, no further decline over the neckline, as you say -- for a nice swing up.
+1 Reply
swinger archie123
2 months ago
It did go down a little more, but looks come right back, see my update.
Reply
archie123 swinger
2 months ago
Stop triggered Monday at the drop, but will get back in to ride up to the right shoulder. Thanks.
Reply
Zohaib_Malik
2 months ago
Just saw this chart first time and made the forecast!
snapshot
+1 Reply
swinger Zohaib_Malik
2 months ago
Thanks for sharing. a 50% retracement to right shoulder
+1 Reply
Parabolica
2 months ago
I agree, my Elliot Wave count under the link

https://new.stocktwits.com/Parabolica/message/64805491
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nnavarrete PRO
2 months ago
I have 3 XBI puts at 55 due Dec 2016 and I opened 100 shares of LABU today.... just testing this small position (hedged)
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swinger nnavarrete
2 months ago
3 put contract XBI? The H&S might work, XBI got lots distraction of some small caps, like SRPT, which was up huge and it contribute to the head building, now might also drive it down as well. Finger crossed.
Reply
nnavarrete PRO swinger
2 months ago
Somehow I am hoping for a stock market crash :)

I have 47 SPXS calls $15, due JAN 2017

Great article from 2014 http://www.cnbc.com/2014/12/31/dont-worry-about-the-us-economyuntil-2018-economist.html

I think it may happen earlier than expected.

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