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.
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looks every time when RSI dip to around 30, the bottom is formed. Finger crosssed, watch Monday closely.
Trade active
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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.
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technically we are still at the neckline, closed my position. will re-enter if it clear 60.81
Just saw this chart first time and made the forecast!
swinger
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Thanks for sharing. a 50% retracement to right shoulder
archie123
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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.
swinger
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It did go down a little more, but looks come right back, see my update.
archie123
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Stop triggered Monday at the drop, but will get back in to ride up to the right shoulder. Thanks.
nnavarrete
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I have 3 XBI puts at 55 due Dec 2016 and I opened 100 shares of LABU today.... just testing this small position (hedged)
swinger
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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.