wash, rinse, repeat. TXN was first posted as a short on 1/20, then posted as T1 being hit just 5 days later on 1/25. after it hit T1, it made a nice bounce back to resistance where once again, i posted it as a short entry on 2/17. well T1 was once again hit yesterday for another 5%+/- gain. not exactly a monster trade but sometimes you can find a stock that ping-pongs between support and resistance, whether horizontal resistance like TXN here, the top and bottom of a channel, or sometimes one can even trade the same stock back and forth inside of a falling or rising wedge.
i realize that i’m updating a lot of trades that hit their targets yesterday but as i recently posted, i can not possibly update all the numerous set-ups and active trades posted here so any trades that you take, make sure that you map over the support and resistance levels/targets to your own charts and set price alerts if you have the capability. i’m also a big fan of using limit orders for closing positions at or just before a target as very often the trade ideas that i post will bounce pretty sharply after hitting these targets, giving you just once change to get exit the trade at the best price in the shortest amount of time from entry.
