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Determining Supply and Demand ZonesHey Everyone! Sharing this video on how I chart out supply and demand. I know I am predominately a math based trader, but supply and demand has traditionally worked extremely well for me with swing trades and thus I still do supply and demand assessments when planning swing trades in addition to quantitative assessments. I thought I would share my personal supply and demand strategy with you. This may not be the "correct" way to determine supply and demand, but this way has worked very well for me in the past. It was taught to me by a swing trader friend of mine, so I can't take all of the credit here (or criticism). I use this in combination with quantitative analysis (forecasting and time series modelling); however, this is completely acceptable and appropriate to do independently of any other analysis. XBI is on my watch list and interestingly enough its current demand zone lines up kind of perfectly with my time series projections. Hope you enjoy! Let me know if you have questions/comments or critiques.
AMEX:XBI
by Steversteves
13
$XBI - Positive DivergenceThe SPDR BioTech ETF $XBI has been an underperforming for a long time. However, there's clues that could be changing. There's a nice positive divergence on the RSI. The down trend line was broken after several failed attempts. The stock is above the 50 day MA for the first time in over a year. Both the 20 SMA and the 50 SMA are curling upwards. RSI is positive. I like this long above the possible resistance area of $96.91. The tripled levered bull equivalent $LABU looks just as good with even better volume. I like the ETF long above $96.91. With a target up to the 200 SMA. of about $114.00 Under $96.91 and it's probably best to stay away. Thanks for checking this out. Good luck to all.
AMEX:XBILong
by Breakout_Charts
10
Rolling: XBI May 20th 75/105 Short Strangle to June 76/110... for a 1.09 credit. Comments: A different way to do a delta adjustment when your setup is in profit ... . Locking in the realized gain of the May 20th setup while returning the position back to net delta neutral and improving break evens. Total credits collected of 2.35 (See Post Below) plus the 1.09 here, for a total of 3.44 relative to a current value for the June 17th 76/110 of 2.72, so I've realized gains of about .72 ($72) so far. IVR/IV is still pretty decent in here at 53/42.6%.
AMEX:XBI
by NaughtyPines
XBI Reversal Inevitable?Taking a view from the long term I see the following: 1. Whenever volume has reached spiked in the past, it's led to a bullish or sideways move. 2. Whenever the MACD has reached current levels in the past, it's led to a bullish or sideways move. 3. We are currently at strong support (psychological 100 and previous long term resistance) 4. MACD histogram is showing a bullish divergence Would expect a test of ~118 within 2-3 months. After this we'll have to see if it will start to trade sideways in the 100-120 range, or if it's ready to go for new highs.
AMEX:XBILong
by Djentinga
$XBI Key Levels, Analysis & Targets - Request$XBI Key Levels, Analysis & Targets - Request Ok, @FlashingGraphs so these would be my targets fo XBI. It sounds like you don’t have an open position yet… I would start around 78.06. Then if it keeps selling off, then double your position at 62.94 And if it still continues then double again at 45.89. If those 3 hit then you can expect a solid 50% swing from there… Because of the way the Biotech sector moved in the past two years I could definitely see it making a 3 standard deviation move down like this, in correction. Don’t go in too heavy until you see a clear reversal sign… (such as macD crossing back above 0, and consistent higher lows) And with that being said I still would start building from Target 1. I hope this helps. GL & happy swinging…
AMEX:XBIShort
by SPYder_QQQueen_Trading
2
Closed: XBI March 18th 71 Short Put... for a .20 debit. Comments: Sold this for 1.41 to reduce cost basis in my inverted short strangle. Closing out here results in a realized gain of 1.21 ($120) on that leg. Cost basis on the remainder is now 12.46, with a downside break even of the short put leg (99) minus credits collected (12.46) or 86.54 relative to where XBI is trading right now at 86.34, so I'm not in horrible shape. I will consider re-erecting the short put if we get further weakness or rolling down the short call further since it's I've collected 12.46 on a six-wide, leaving me with room to invert further if I have to.
AMEX:XBILong
by NaughtyPines