Somebody asked me why XBI is going up so much.
When you have such kind of questions you need to see the big picture and control your emotions if you have an open position.
Markets go up, sideways or down because they just reflect crowd psychology.
This is why it is important, during weekends for example, to analyze the big picture.
What I see in XBI is that we are just having a reaction and nothing more.
The channel was broken, XBI went down in a nice 5 waves move (1) and now we see the reaction (2).
As soon as it ends, a new strong move down will start.
It will be a nice short trade with target $50 to $45.
When you have such kind of questions you need to see the big picture and control your emotions if you have an open position.
Markets go up, sideways or down because they just reflect crowd psychology.
This is why it is important, during weekends for example, to analyze the big picture.
What I see in XBI is that we are just having a reaction and nothing more.
The channel was broken, XBI went down in a nice 5 waves move (1) and now we see the reaction (2).
As soon as it ends, a new strong move down will start.
It will be a nice short trade with target $50 to $45.
Note
The move down has started and it will be an interesting one.
Winstox
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Winstox
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.