AMEX:XBI SPDR S&P BIOTECH ETF
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.
Comment: looks every time when RSI dip to around 30, the bottom is formed. Finger crosssed, watch Monday closely.
Trade active: $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.
Comment: technically we are still at the neckline, closed my position. will re-enter if it clear 60.81
Comment: bottom build is in progress, this might resume the right shoulder build. Watch closely.
Trade closed manually: This not valid for the moment, could be sideways, caution and keep an eye on it
Comment: this could be a perfect reversal signal
Trade closed manually