T1 hit for a quick 4.5% gain in less than 2 full trading sessions. While a reaction is likely off the 67.60ish minor support level (dotted line), my expectation is for a continued move to T2 before any significant reaction.
Active Trades are trade ideas that were previously posted as Trade Setups and have since triggered an entry or occasionally, a trade idea that was first posted directly to the active trades category as offering an objective entry at the time of the initial post. Active Trades might also be listed in one or more of the other trade categories as these categories are not necessarily mutually exclusive. E.g.- An Active Trade that still offers an objective entry might also be categorized under the Trade Setups category. Likewise, an Active Trade with multiple prices targets may have already hit one or more of those initial targets with additional target(s) remaining, thereby falling under both the Active Trades and Completed Categories. Traders should look to make any new entries or add to existing Active Trades objectively, such as a on pullback to a support level during an uptrend or a re-test of a broken trend-line, wedge, or channel pattern.
Despite plunging oil prices, the airline sector topped nearly a year ago & would appear to be headed much lower in the coming months, especially if/when oil prices start to rise. This 10-year weekly chart of the $XAL (Amex Airline Index) shows that after a [continue reading…]
The FL (Foot Locker) Active Short Trade has now hit the first target for a gain of 11.8% in just over 2 weeks from entry. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. Trading Tip: Yesterday in the Trading [continue reading…]
TSM (Taiwan Semiconductor), the second largest semiconductor company behind INTC, offers an objective short entry here on the backtest of the recently broken primary bull market uptrend line. T2 (16.84) is the current final target with a suggested stop on a close above 24.50. 10-year [continue reading…]
FL (Foot Locker Inc) offers an objective short entry on this backtest of the uptrend line generated off the November 2013 lows following the recent breakdown. T1 is 59.30 & T2 is 51.60 with a suggested stop on a daily close above 71.60.
BRK.B gapped below the first target yesterday to open at 129.00, where any standing BTC limit orders would have filled, providing a 7.3% gain from the June 9th short entry price of 139.23. T3 remains the final target at this time. Suggested BTC levels for [continue reading…]
BRKB (Berkshire Hathaway Cl. B) triggered a short entry with Friday’s close below both the primary uptrend line & 40 week ema. Targets shown are unadjusted for optimal fills, with the exact suggest BTC levels to follow. This trade is expect to be a multi-week [continue reading…]