Best Buy. This one cracked last week. This is the same sector as Target. I am looking for a pop back into 106.50. If it runs past that I’ll look for a fade against the monthly pivot at 108.50.
How I choose which ideas to focus on. Hint: I watch the broader market.
Remember the levels in the ES / NQ… if the market hits those areas of resistance and sellers appear I’ll revisit names like Best Buy. If the market comes in and finds support at levels, then I’ll focus more on longs.
Trade closed: stop reached
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Shorted 108.40, added at 109.39, avg was 108.90. Covered at 109.98. I'd like to revisit if we now lose 109.60 without being able to make a new HOD