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Profittarget

Good Short Idea!!Hey guys, I've been posting a lot of Bullish ideas recently, however due to the market instability, negative fundamentals, and recent failure to move past a key resistance point for the Indices, I've decided to post a short idea I know I could very possibly use myself if the market proves to be bearish. This stock, INCY, is ridiculously horrible. It's truthfully an $8 stock disguised as $80. It's hard terrible luck in it's past and now is far from any different. Even excluding negative EV/EBITDA and terrible EPS numbers, this is still a fantastic technical setup. Stock has super bearish 30-minute and Daily charts, 5 Day MA seems to be moving down and it's formed a nice downward channel. Profit targets are around $80 (Super conservative), $76.5(Moderate), and $70 (Aggressive). Depends on time-frame of stock, shouldn't take that long of a move, maybe 2 weeks at most. Another profit target would be when the daily RSI hits around 25-28, seems to be a support point. Just figured I'd post this. Remember never to short a stock in a positive, up-trending market, and never go long a stock in a negative, down-trending market. Why take the risk of going against the market when it pays off more to follow the market and increase your risk due to the certainty of the market trend? Leave questions down below.
NASDAQ:INCYShort
by croganm
EUR/AUD hitting daily resistance.On the daily chart, it is showing that the market is hitting the daily resistance and the RSI is showing that the market is close to being overbought. On the 4 hr chart, it shows RSI being overbought and the 1 hr shows it being overbought again so that is confirmation that we will go short on this trade once an entry has been found. Currently I placed a mini black resistance line below the daily resistance so when price breaks this, you can simply execute a sell stop order and ride out the market to your preference. There are three profit targets which I have placed. Once it hits profit target 1, I am confident that it will hit the other 2. First profit target is a 4 R/R Thank you guys and have a great weekend.
Short
by chiefcapitalfx
38.2% Profit Target is the best!Guys, This is why I don't take multiple profit targets. Most harmonic traders will take targets at the 38.2% Fib level, and the 61.8% Fib level and maybe even a third profit target at the 100% level. I ONLY take at the 38.2% Fib level. And I take everything off at that point. The Reason: In my testing,(backtesting, demo trading and Live trading) I found that more patterns will hit the 38.2% level and then reverse before hitting the 2nd profit target. Moving down all the way to at least the original entry position. Not all of them, just the majority. So instead of me only taking half of my profit, I am taking all of it. Yes I have the potential of making more money IF price action were to hit the 2nd profit target, but I find that 68% of the time, nearly 70% of the time, it never hits the 2nd target without first reversing and going back to the original entry. And if you are taking multiple entries, you will usually roll your stops up to entry level once it hits the first target. Then you get stopped out before it returns back up to hitting the second profit level IF it goes back up.
by KarmaCashflow
1