HBI Short Trade Follow Up

HBI was a short trade idea from 7/22. Today it's giving a better entry and may continue to do so.

 The idea behind HBI was a false breakout and a significant break on heavy volume. As you can see, HBI has formed a bear flag since-volume is correct for the bearish continuation pattern.

 The hourly 3C chart is where there's big trouble, it was negative into the false breakout and remains negative in the bear flag.

 Under the circumstances, any upside reduces risk and gives a better short entry or add to position.

It wouldn't be uncommon to see a move out of the bear flag to the upside, which would be fine. I'd like to see the small breakaway gap remain unfilled.