Swing traders must have a basket of setups in order to trade consistently and successfully. One of my favorite setups is the “rubber band” short setup. $XLE is a good example of this setup.
Trade Report members were alerted to this trade when I made it and again when I took partial profits this morning on the gap down. The stop has been moved up, essentially making the rest of this trade a “free ride”. My target now is a retest of the lows.
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