The following Short Trades have been moved to the Completed Trades category as they have either exceeded their suggested stop (or any reasonable stop criteria, if none listed) or they no longer look compelling from a risk/reward perspective: AMTD: Regained the uptrend line shortly after the breakdown & went on to exceed any reasonable stop. [...]
CMG Jan 23: Short entry triggered The CMG (Chipotle Mexican Grill) short trade setup, which was posted yesterday afternoon, triggered a entry on a move below 506 today. I've also mocked up a live chart for the CMG short trade which can be viewed by clicking here (and will also be added to [...]
CMG daily Jan 22nd CMG will trigger a short entry on a break below the 506 level which is just below both the ascending channel as well as horizontal support. Static daily chart shown. Click here to view the live, annotated chart of CMG.
...one to go.
In updating the trade ideas on the site, the following trades will be removed from the Active Short Trades category. These trades have either hit one or more profit targets, exceeded their suggested (or any reasonable) stop criteria, or based on the technicals, these trades no longer offer a very attractive risk/reward profile. Also note that there are a few short trades that have exceeded their suggested stop(s) but still look attractive and as such, will remain as active trades for now. I will update those charts on an individual basis asap. [...]
CMG is one of several active short trades close to being stopped out. As far as stops, I typically base my stops on the candlestick close on the time frame that the trade was based off. A good example of this is the $SPX, which as I mentioned early has exceeded the 1430 level intraday [...]
CMG is once again offering an objective short entry or add-on for those longer-term swing or trend traders who were not stopped out on the recent bounce. T3 on the daily chart (the 213 level which is also T1 on the weekly chart) continues to be my preferred swing target. For those initiating a new [...]