$SPDR S&P Biotech(XBI.US) as an example of my initial entry, stop and end of day stop to help a couple of followers. I saw the stick on 5-19 and put the name back on my watch. I liked the 100ma just overhead and the stick was not an indecision stick but showed potential reversal characteristics. 5-20 the gap over the 100ma was my reason for entry. My initial stop in the machine was 123.90 to give room below the low of 5-19. My end of day stop was a close below 124.60. Neither happened. The trade progresses I came to these levels using an H1 pivot of 125.23, A chandler exit level of 124.62 and a monthly level of 124.63. AT this point end of day a loss of the 50ma would cause concern over the trade. Intraday my in the machine stop is at breakeven/100ma area

Source: Sunrise Trader