Source: slopeofhope: Slope Of Hope with Tim Knight

TJX is an active short trade that recently came within a point of hitting the first target just before the market bounced and once again looks to offer an objective short entry here as it back-tests the recently broken S1 support level (now R1, resistance).  T2 (28.30) is my preferred swing target on this trade over time and would provide roughly a 35% gain from current levels if hit.  Therefore, stops can be set as high as 10% above current levels and still offer a 3.5:1 R/R although one could also short here with a stop not too far above resistance on a move over the 44.40 area, thereby giving this trade an excellent R/R of 15:1.  Daily & 2-day period charts below: