another fine example of the “wash-rinse-repeat” method of micro-managing swing trades off the multiple target levels posted on many of the trade ideas here. CMG has now hit T2, once again, so consider taking partial or full profits, depending on your trading plan, and/or lowering your stops. the last update on this trade was to affirm that the oversold bounce back to the former T1 support level (now resistance) was a very objective level for traders who booked profits at T2 to re-enter the trade (as well as a new short entry for anyone).
although i continue to favor T3, the most recent short entry is already up 13.9% or 14.6% (depending on which of the two entry prices posted, 333.54 or 336.45) in just a few weeks so the odds of some type of bounce or consolidation around current levels is pretty good. however, longer-term swing traders shouldn’t be overly concerned with short-term price fluctuations and might just adjust their stops appropriately and continue holding for T3 (T3 =212 area and is shown on the previous daily charts. T3 is also T1 on the previously posted weekly chart as well). charts on this trade in order as posted with the updated chart daily chart last, which shows the anatomy of this trade as a educational example of enhancing gains by trading around target levels.
