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 [...]
The IACI short recently exceeded the first suggested stop level for the add-on lot (or new entry on the bounce back to T1) but stopped cold at the 200ema which I mentioned as a key resistance level for those preferring to give the trade some more room. Once/if the recent lows around 41.90 are taken [...]
For the IACI new short entry or add-on trade posted yesterday, consider a stop not too far above the 46.60 level. That would provide a 3:1 R/R on the trade. Although the bear-flag pattern has been busted up today, the trade still looks fine technically as long as it stays below that horizontal resistance level [...]
The IACI active short trade is once again offering an objective entry here as prices back-test the recently broken T1 support level (now resistance). IACI is also at the top end of a bear-flag pattern which, if broken, could be the catalyst to help propel prices down to my preferred target & final target (T2).
The IACI short trade has hit the first target for an 11.4% gain so consider booking partial or full profits and/or lowering your stops, depending on your trading plan. My preferred target remains T2. Updated daily & 2-day period charts:
one of the better looking active short trades. IACI still offers an objective short entry or add-on at current levels with a 9% profit potential to T1 and 29% profit potential to T2 (my preferred target). daily & weekly charts show. i have slightly re-draw the channel on the weekly chart from the previous post. [...]