LABD If the market is going down even just to grab stop losses, it typically is a good trade for LABD.
For some reason I was not able to access any ETF charts this morning and am now just getting them back online.
I mentioned yesterday that my next area to look for a bounce trade on LABD would be close to the .786 dip
Looks like we got a green candle close just above it. Then it was followed by a horizontal flag/consolidation break out. So 2 good buy triggers.
Stop would be at swing lows and target at the blue 50 EMA
Again these are 2 of my favorite 3 set ups to trade. You don't need to know 100 different patterns to make money.
Just a side note, I don't like to chase too big of a green candle on a consolidation break out so often times I would look for a pullback to the top of the breakout flag.
For some reason I was not able to access any ETF charts this morning and am now just getting them back online.
I mentioned yesterday that my next area to look for a bounce trade on LABD would be close to the .786 dip
Looks like we got a green candle close just above it. Then it was followed by a horizontal flag/consolidation break out. So 2 good buy triggers.
Stop would be at swing lows and target at the blue 50 EMA
Again these are 2 of my favorite 3 set ups to trade. You don't need to know 100 different patterns to make money.
Just a side note, I don't like to chase too big of a green candle on a consolidation break out so often times I would look for a pullback to the top of the breakout flag.
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