Minimal expected targets are important ... shorting FAZ on Tuesday you'd have to have had your mind on larger targets than the minimum, else it makes no sense from a risk-reward perspective. FAZ set up on the 15-minute back on May 28th (entered 19.34, looking for 18.89) so when it sets up short on a smaller time frame later on, I'm still thinking in terms of the stops and targets from back in May.
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FAZ (Financial Bear 3x) set up on the 5 minute ... tone was weak from get-go ... obvious by 11 AM you're favoring the short side ... looking for long set-ups in your bear funds (TZA and EDZ both set up at 11:45, SQQQ set up at 11:00 but got flushed, etc.) ... third target for FAZ was 20.80, didn't quite make it there.