The following short trades have either exceeded their suggested stop(s) or no longer look compelling from an risk-reward perspective and will be moved to the Completed Trades category: ADBE: Has traded slightly above the suggested stop of 77.09 over the last several trading sessions, resulting in a relatively small loss of 2.8%. As the R/R on this trade was way above average (over 10:1 R/R to the final target), in hindsight, I should have listed multiple stops, not just the sole suggested stop 77.09 which was based on the distance to the first profit target at 69.85. With that being said, [...]
FOE daily Feb 5th FOE (Ferro Corp) offers an objective add-on or new short entry as the stock is currently backtesting the recently broken 11.85-12.05 former support, now resistance zone. The sole downside price target remains 10.61 with a suggested stop over 12.15. From the current price of 11.94, that provides a very attractive R/R of 6:1. On the flip-side, I do see some potentially bullish developments, such as positive divergence recently formed on the 60 minute time frame and the fact that FOE has now moved above the Jan 16, 2015 & Oct 15, 2014 reaction lows. My [...]
FOE daily Jan 14th FOE (Ferro Corp) offers an objective short entry here on the break below this support shelf. T1 is the sole target for now with the potential for additional downside targets to be added. Suggested stop over 12.15.