In updating the trade ideas, the following Short Trades have either hit one or more profit targets and/or exceeded their maximum suggested stop with all associated posts to be moved to the Completed Trades category where they will be archived indefinitely for future reference: XOP/GUSH: Hit the first target for a quick 10% gain (on [...]
This video covers the Active Short Trade Ideas on Right Side Of The Chart, along with a brief highlight of today's breakdown of QQQ, including some objective levels for shorting the broad market.
Regarding the recent comments on DRIP in the trading room whereby several traders just recently had their stops taken out, it looks quite likely that there might another shot at an XOP/GUSH short or DRIP long on a break below this Ascending Broadening Wedge pattern (purple uptrend line). The negative divergences in place warn of [...]
Despite crude prices rallying over 10% in the same time period, XOP is only up about 3% since the 4/29 short entry. As I had apparently neglected to list a suggested stop earlier, the official stop for the XOP/GUSH trade will now be set to any move above today's high of 38.28. XOP 60-minute [...]
The following Active Short Trade ideas are covered in this order: ADP, AG, AMZN, BRKB, FL, GDX/NUGT, XOP/DUG/GUSH, PCLN, & USO/UWTI.
Although XOP has essentially traded sideways since breaking down (as with the broad markets), I still favor a resumption of the downtrend to the T2 final target of 31.77. A break below this most recent minor uptrend line could be the catalyst for the next wave down. The second 60-minute chart below presents an alternative [...]
XOP (Oil & Gas Exploration & Production ETF) hit the first target (32.20) on Monday followed by the typical reaction that occurs when a price target is hit & now appears poised for another thrust down towards T2. At the first target price, that provided a gain of 10.1% on the XOP short or a [...]