We are humans and before going forward we like to test and retest ...This time is not different and the momentum on the daily is starting it is transition into negative territoty + bearish macd crossover...
I open a long position in $labd yesterday but the drop in $xbi will not come until next week..Friday should confirm the berish trade setup and i will be...
Last time i miss the entry because i did not complay my rules of eliminating noise... I did not analyze the big picture first...
This time is different and i am ready for a short position and get disscount iN the process...
Levels to watch:
77.02,75.69 -73.49
I see a descending triangle. These are the paths for both the bearish and the bullish continuation that we might see next week.
Red = Bullish
Blue = Bearish
XBI, LABU, BIB should slide to the bottom of the channel until End-July. See high moving-average divergence, reconvergence and channel pattern. Short unless something changes.
Goal is not to be correct, goal is to be prepared. There's evidence of 3 predicted price paths as far as I can see.
Descending bullish triangle would lead to upside and would give evidence that this is the 4th (corrective) wave in the elliot wave and complete an ABCDE before the final 5th wave. ( Bull )
Flag pattern would lead to downside in the near term before...
Goal is not to be correct, goal is to be prepared. There's evidence of 3 predicted price paths as far as I can see.
Descending bullish triangle would lead to upside and would give evidence that this is the 4th (corrective) wave in the elliot wave and complete an ABCDE before the final 5th wave. (Bull)
Flag pattern would lead to downside in the near term before...
Decided to deploy a slight negative to neutral bias August18th Iron Condor option on XBI. 30 Day IV rank 84.952%
The strikes are as follows. The Sell side is a 10 point spread of 74(.24 delta) Put / 84 (.30 delta) Call. The buy side options at the 72 and 86 strikes respectively.
Premium collected was .90 cents per share which and will look to cover position...
XBI has been in a strong uptrend recently. For the past few days its been consolidating around 79.5. And I'm hoping to trap some of the buyers that took a long position on the move higher this morning.
And I hope you all have fresh felts hanging from your walls. Recall 3 weeks ago I shared a long strategy from $68.50. XBI found critical medium-term support at $66.66 and is up 20% since the 5/31 low.
For wave counters, we are ostensibly in minute-3, of micro-3, of intermediate-3 of primary wave-5. After consolidating and forming a base from late March - ...
XBI breaking out of a rectangle, after breaking out of a triangle, coinciding with QQQ boucing off 50ma. Both targets are around $80
After watching this intraday I see no indication of slowing down.
The trend has been very strong in the market, volatility is amazingly low, and hardly anybody trusts the market on a fundamental basis. Macro data continues to...
XBI UPTHRUST CAUGHT A LOT OF PEOPLE WITH THE GUARD DOWN BUT BEARISH DIVERGENCE WAS A WARNING FROM THE START..
Everything happen so fast when xbit started to plunge after IDMC recommends ending late-stage trial of colorectal cancer treatment and this event that happened at 2:40pm on friday overturn $xbi at the same moment and now is going back to 400 EMA ...
Bring back technical analysis . Too often I've been seeing people just posting a picture of the price action and then an arrow going up or down with the title "Long UVXY" or some garbage like that. Nobody gives two farts about whether or not you entered a position. Show me some fibonacci. Show me some technical divergences. Show me some diamond bottoms. Show me...
$XBI has fallen twice now due to a ascending wedge. I believe we have reached the peak of the 3rd. There is strong resistance which the price was rejected off of. There is a significant divergence on the 4 hr chart marked by the purple line. There has been an increased number of divergences on lower timeframes as we reach the end of this suggested pattern. The...
