the X short has now hit T2 (final target) for a 26% gain so consider booking full profits if that was your plan. although i will be moving this to the completed trades category, if you reference the original post on this trade that i made back on february 10th (click here to view), you will see that X has the potential to be a much more lucrative swing short based on the weekly bear-flag breakdown.
although i think this trade could have a lot more downside over time, i am removing it from the active trades list because i believe the “easy money” has already been made on the trade. if that weekly swing target is hit (see updated weekly chart for the calculation), it will most likely tie up your capital for many weeks or months and i usually prefer, especially when trading the short-side, to exit the trade once the highest probability swing target is hit, usually no more than a couple of months from entry, and redeploy that capital in a higher velocity trade with a better R/R ratio. since this was a longer than usual swing trade (3 months+), i’ve omitted a few of the daily charts but the rest of the charts are in chronological order to give a visual overview on how the trade played out. last two charts are the updated daily & weekly charts.
