After hitting the first price target for a quick 3% profit just 2 trading sessions after the short entry, XLF began trading in a sideways range lasting for month. Prices recently broke out above the range on June 9th to exceed the suggested stop of any move above 24.25 with XLF just recently failing that breakout with a move back down inside the range. That would account for a relatively minor loss of 2.1% for those that did not book partial or full profits at T1 if holding out for T2. In light of what so far appears to be a failed breakout, XLF may soon be added back as another official short trade.
XLF daily June 23rd close
With XLF being re-assigned from the Active Trades to the Completed Trade category, the Active Short Trades category is up to date with an unusually low number of official trades. TDY is the only active short trade at this time & still looks good for now having already fallen about 1/2 way to the first price target with little, if any, give-back since triggering a short entry on the break below 128.00. However, there have been numerous attractive unofficial trade setups, both long & short, posted in recent weeks both in the Trading Room* (best viewed by clicking on the “Swing Trading Group” or under the “Unofficial Trade Ideas” category (main menu bar at top of page > Trade Ideas > Unofficial Trade Ideas… with sub-menus to view either Long or Short setups). *The Trading Room is accessible to Gold & trial members only.
I will be leaving town for the next 2 weeks on a working vacation & plan to post several new trade setups over the next several days, both long & short. I also plan to update the Active Long Trades today, removing any trades that have either hit their final price target, exceeded their suggested stop or simply no longer look compelling from a R/R perspective.