I've spent some time in updating both the Trade Setups category as well as the Active Trades category. Trade Setups are trade ideas that are either currently offering an objective entry, such as an active long trade that has pulled back to support, for example. Stocks or ETF's that are setting up in a bullish or bearish technical pattern but have not yet triggered an entry fall into this category as well. As such, trade ideas are often assigned more than one category as they are not mutually exclusive. A description of each category can be found at the top of [...]
FDO is a good example of how, contrary to popular belief, one can successfully swing or trend trade the short side just as effectively as the long side, given the right setup and analysis of the charts. FDO was originally posted as an active short back on June 27th, 2012 at 68.84 and has remained an active short trade since. The first price target was hit on Jan 3rd for a 17.3% gain when FDO made a large gap down well past the posted T1 level. As far as tracking, just like real world results, if a price target is exceeded [...]
FDO has broken below the trendline on the weekly chart posted back on Sept 17th. I have updated the weekly chart to include the target price levels for those looking for a potential long-term swing short trade. Although I believe this trade could be entered or added to here, a solid close below this trendline tomorrow (weekly candlestick print) would be additional confirmation that this multi-year uptrend line has now been taken out and the primary uptrend in FDO has likely ended.
the FDO short is a good example of a short trade that has performed well in lieu of a strong uptrend in the broad market. FDO is at a 6.7% gain from entry (68.84 on june 27th) and since the last update, prices have broken below the S1 support line and have failed to regain that level on multiple attempts so far. targets are shown on this updated daily chart. i have also added a weekly chart with an additional entry criteria and some longer-term swing targets. for those in the trade, a tight stop on a solid move above S1 [...]
here some updates to the active short trades. any active shorts not listed here still look fine technically but feel free to email me if you have any specific questions on a trade. [...]
i have added a support line to the FDO chart which, if broken, should help propel prices lower to the first target area (intersecting weekly uptrend line and horizontal support). daily charts below:
FDO is re-testing the recently broken uptrend line, offering an objective add-on to the short or a new short entry, with stops just above the other side of that trend line.