Identify The Trade
$XBIO was mildly on my radar during the premarket session as it had run a little bit but there was little volume and already giant fade right when the market opened. But as the market opened the volume started to come in and I took closer notice.
Choose The Strategy
Once this stock made it to or over premarket highs I was very interested to take a trade at a lower-low. So I was looking for $XBIO to make its high and then to catch the trend downward.
Execute The Trade
After I saw $XBIO spiked up hard and moved back down just as quickly. When I saw my signal for a trend change I took a position and setup my exit targets. One exit target reached, but after that $XBIO spiked back up and I stopped out.