I've spent most of the morning reviewing the charts on all of the active trade ideas. While all the active longs still look fine, the short trades is a mixed bag right now: Some with nice embedded gains, some close to entry/breakeven, some close to their suggested stop level and some that have already exceeded their previously suggested stop criteria & need to be removed from the Active Trades category (and into Completed Trades). Those completed trades and their reason for removal are as follows: [...]
here are the updated daily & 2-day charts on TIF. i've added an ascending channel on the daily chart. a break below that channel would signal an objective add-on or new entry short. please note that i have also modified the targets by changing the previous target to T2 and adding a new target at the 50.00 level (now T1). TIF ran hard to make a perfect kiss of the 2nd suggested (more liberal) stop level where prices were immediately rejected. that remains the preferred stop on this trade and T2 is my preferred swing target for now. [...]
the TIF active short has exceeded the first (tight) stop level and is currently just below the 2nd, more liberal suggested stop. as i continue to prefer wide stops lately, i pulled my original tight stop and am still short TIF but won't allow it much room above the stop 2 level. from entry, this trade is down 6.5%, still offering an excellent R/R from the original entry considering the primary target of 39.65. TIF could also provide an objective add-on or new entry short here with a tight stop above that level which would offer a tremendous R/R is the [...]
fyi- i've added the following stop suggestion to the previous TIF short post and i've highlighted that level on this daily period chart (previous chart was a 2-day period). there’s also a nice gap around 63, a stop just above that area would also make sense from a technical perspective (i placed mine at 63.43).
this one's about as straight-forward as it gets: TIF recently broke-down from a clean double-headed H&S pattern, prices got sucked up in the volume-less rally and have pushed back up to re-test the neckline from below. TIF offers an objective short here with a stop not too far above the neckline. 5-10% above is probably idea based on the distance to target and of course, depending on your own risk tolerance and trading style. remember, trading is all about selecting only trades offering a favorable risk to reward (R/R) ratio. a 10% stop equates to about a 6 point loss on [...]