The following Short Trade ideas have either exceeded their suggested stop(s) or no longer look compelling from a R/R perspective and will be moved to the Completed Trades category:
ACN: exceeded the suggested stop over 100.65 on July 17th.
ALGT: came with 2% of reaching the first target but then reversed, exceeding both the entry point & any reasonable stop (none suggested).
ALK: just printed a divergent high but has exceed both the entry level & any reasonable stop (none suggested).
FAS: the FAS short entered on July 10th was stopped out on July 16th when XLF took out the previous reaction high. That trade has been moved to the Completed Trades category but FAS was also added as a new short entry on July 24th and remains an Active Trade at this time.
FB: Stop parameters were not listed on the most recent short entry posted on July 15th but despite today’s post-earnings sell-off, I can’t make a compelling case to stay short (and personally was stopped out of that last trade). As such, FB will be removed from the Active Trades category. For those still short, consider trailing stops lower or a hard stop above 97.50.
ILMN: weekly (long-term) chart still looks bearish but ILMN exceeded the upper-most suggested stop of 3:1 to the final target.