as i have been working on getting the trade ideas cleaned up, i noticed the following short trades have all been stopped out as per the previous posted suggested stop criteria for each trade and will be moved to the completed trades category: GCO, GDX, , IMGN, IYR (hit T1, then bounced and stopped out), [...]
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. [...]
the TIBX short is still below the first posted entry price, although only slightly as it has bounced back close to breakeven after getting sucked into this volume-less rally before hitting it's first target. i've added a triangle pattern formation to this daily chart and although i'm still giving my shorts a little extra wiggle-room [...]
for those in the TIBX short trade, as i am, we are feeling the pinch of a short-squeeze today and although today's move could have some legs, i am not overly concerned with it at this point. this trade is just slightly above the original entry price and still well below the 2nd objective add-on [...]
i constantly harp on the fact that many of the Active Trades also make for objective new entries, often several days or even weeks after the trade has triggered an entry (break-out or break-down). many patterns, especially wedge or trendline breaks, often come back to re-test the wedge/trendline after the initial thrust following the breakout [...]
the TIBX active short trade is offering an objective add-on or new entry here on the re-test of the recently broken uptrend line. stops on a solid close above that line or whatever set percentage level you are comfortable with. 2-day & weekly charts below.
for those in the current TIBX short trade, be advised that i have made a very slight modification to the first target by adding an additional support line just above the original, thus making the first target a small price zone. also remember that although for tracking purposes i count the tag of each target [...]