The Bearish TT Blackbox Trade with $HON

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What was the Bearish HON Swing Trade?

$HON Bearish Swing Trade look for a Break below $201.20 with a stop-loss at $203.48.  Target exit is $196.81.

Who is HON?

Honeywell traces its roots to inventor Albert Butz’s company, the Butz-Thermo Electric Regulator Co. in 1885, which produced a predecessor to the modern thermostat.

From its origins developing climate control technology, which still operates today, Honeywell has emerged as a sprawling conglomerate with operations that span the globe.

Today, it operates through four business segments–aerospace, building technologies, performance materials and technologies, and safety and productivity solutions–increasingly transforming itself into a software-industrial company serving diverse end markets like the U.S. defense, e-commerce, and oil and gas industries.

You can see the following on the chart below:

  1. The green line shows the target entry price.
  2. The red line represents the target exit price.
  3. The pink line is your stop-loss
  4. I entered this trade short 100 shares at $201.03
  5. I am still holding my short position.
  6. $HON price closed at $199.29 on 11.11.2020
  7. My stop-loss has been moved to $199.95

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For all of you wanting to know how I decide to enter and exit my trades, I have listed those key points below:

  • I have created a watchlist of the tickers I like to trade the most. Download my watchlist right “HERE”
  • I review that watchlist against the alerts from the TT Blackbox each 5-minute interval.
  • I focus on the $VIX. This measures volatility in the market. If volatility is moving up, the market is moving down, and vise versa. This simply means I start here and does not mean I will not trade against the market.  However, I do not recommend that for the novice trader.
  • Once I know the direction of the market, I start to focus on the tickers moving in that direction.
  • Once these tickers alert on the TT Blackbox, I typically wait till the closure of the next 5-minute candle and I enter.
  • I then immediately set a limit sell order for 5%.  Keep in mind I am trading shares in the price range of $30-$400 tickers so 5% is big money.
  • I exit my trades based on two points.  One, being the TT Blackbox stops alerting or alerts in the opposite direction, and two being my 5% target has been met.

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