I had two price alerts trigger right after the opening bell today. I was watching this beautiful bullish falling wedge pattern on FL (Foot Locker Inc) with price alert set on a break above the wedge (downtrend line). I was holding off since FL was scheduled to report earnings before the market open today & as I often the case, the stock experience a bullish gap in the direction indicated by the charts. FL is trading in "no-man's land" now, smack between support & resistance while in the middle of a huge gap so an entry at this point is not [...]
Member @ruben shared a handful of short candidates in the trading earlier today, several of which I agree look like attractive shorting opps, either at this time or pending a sell signal. I'll follow up with some of the other charts either on the front page or within the trading room but wanted to share one of those potential (but not yet official) short candidates, FL (Foot Locker Inc). It appears that we have YADH (Yet Another Divergent High) in FL, with the daily chart below showing the corrections that followed the two previous divergent highs in FL over the last [...]
The FL (Foot Locker Inc) short trade has hit the final target (51.60) for a 23.2% profit. Despite my bearish outlook for the broad market, the R/R no longer warrants remaining short in FL as the stock is at major support with bullish divergences in place. Consider booking full profits as FL will now be moved to the Completed Trades category. FL daily June 24th
The following Active Short Trade ideas are covered in this order: ADP, AG, AMZN, BRKB, FL, GDX/NUGT, XOP/DUG/GUSH, PCLN, & USO/UWTI.
The FL (Foot Locker) Active Short Trade has now hit the first target for a gain of 11.8% in just over 2 weeks from entry. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. FL daily Nov 13th Trading Tip: Yesterday in the Trading Room, I had posted that upon further review of the charts, I believed that FL would likely exceed the first target, likely moving down to at least the 57.70 area and as such, that I was considering lowering price target or trailing stops to allow my profits to run (T2 [...]
FL (Foot Locker Inc) offers an objective short entry on this backtest of the uptrend line generated off the November 2013 lows following the recent breakdown. T1 is 59.30 & T2 is 51.60 with a suggested stop on a daily close above 71.60. FL daily Oct 29th
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 [...]