$XBI Starting New Bullish Trend?

13 lut

XBI has been range bound (wide range) for a year. Recently it has been in a downtrend as defined by lower highs and lower lows. However, it looks like we now have a recent higher high and (maybe) a higher low. There are still technical challenges like it is under all moving averages. It would look much better once it gets above the shorter-term MAs which are all declining. The MACD is on a slight downward slope as well.

Having pointed all that out, I will be looking at a lower time period chart to get an early entry with a tight stop. If I do take a trade on this, I will post the chart I am looking at. All TBD.

This is my idea, if you like it, please make the trade your own and follow your own trading rules.

13 lut

Zlecenie aktywne

XBI I have started a position here with about 30 minutes left in the trading day. My cost is 90.69 and I'll have a stop on a close below todays low. Let's see what happens. I am using the 5 minute chart to see how this has been trending today.