Direxion Daily S&P Biotech Bear 3X Shares (LABD)

[Sendme]

I have been looking at some ways to brush up on my scalping skills, and found this to be interesting. Maybe it is old news, just thought I would share it. This is a link to a video showing the fib .786 method

I backtested it on LABU since that one had the most recent uptrend. There are two trades on this chart, one in Blue and one in Purple. Probably should have put them on separate charts, oh well. 15 minute chart.

I think that this is actually a pattern that I could trade while at work. Set a limit order for the fib .786 and sell at the double top.