CBS Stock – Potential Short Trade

26/11/14 – My Stop Loss on this Short trade on the CBS stock was taken out in yesterday’s session, giving a 1% loss on my trading account balance for the main trade.  Looking back at this trade I did notice on the day of entry that the PTI moved below 35 and should have been more aggressive in managing this volatile trade and taken smaller profits, which I will do if this instance occurs on future trades.  Over the NET loss for this trade is 0.5% on my trading account balance as I had a reasonable small profit on my scalp trade on this CBS stock at the beginning of the week.  Chart as Below.

CBS#7

24/11/14 – The price action for this CBS Stock Short trade is going against me, but I was determined to get in on Scalp trade if the setup works. After an initial drop in the direction of my main Short trade, the price pulled back then formed a Doji t the same time s the stochastic was crossing over in the over bought zone, on this 5 minute chart. Further confirmation from the MACD  looking to cross from +ve to -ve was all I needed to setup this trade.  The Stop Sell Order set @ 53.62 which was below the low of the green candle preceding the Doji. Stop Loss @ 53.71, just above the Pivot B Doji high, with the standard 1;1.6 Scalping Risk to Reward giving the take profit limit order @ 53.46.  At 12:20 the trade triggered and then moved down with momentum over the next few bars. At 12;45 there were signs that the bearish move was exhausted and so I placed my Trailing Stop @ 53.57 to lock in 0.5% profit on my trading account balance, whilst still allowing the trade to potentially move down. At 13:20 my Trailing Stop was taken out giving a 0.5% profit on my trading account balance, which is some way towards hedging the potential loss on my main trade.  i may be more active with manually stopping out these scalps at signs of exhaustion in the future to gain better profit.  Chart as below for this Short Scalp trade on the CBS Stock.

CBS Scalp#1

04/11/14 – The price for this CBS Stock gapped down on open near the exit to the Trend Channel, then continued its Bearish momentum to trigger my Stop Sell Order to enter the trade.  This has been a large movement with large volume and I expect by the end of today’s session the volume will be higher than the previous two trading days.  My only concern is that the PTI has changed to below 35 so I need to keep an eye on this trade closely in the first couple of days.  For the Bearish momentum to continue with this CBS stock the price needs to close below the entry price today and preferably near the low of the day.  Chart as Below for the entry into this Short trade on the CBS Stock.

cbs stock

01/11/14 – The price for this CBS Stock gapped up on open just like my MDLZ potential short trade on my watch list and followed suit by closing the gap and closing lower than the open with higher than average volume.  The change here is that the Trend Channel is now below 0.9 and therefore 7/9 of my trade setup indicators are in the green, still making this a viable trade setup.  With the entry point remaining the same, the 6/4 MA Low would be crossed before entry into the trade giving 8/9 indicators in the green upon entry.  I have adjusted the Stop Loss to 54.96, which compensates for the new Wave 4 extreme High formed at the open of Friday’s session.  Like the MDLZ potential trade, the price action for this CBS Stock during Monday’s session is important to the future of this potential Short trade.  I may also consider a straddle trade setup after Monday’s session as a Bullish Flag is forming and like the SBGL trade, strong setups in both directions are presenting themselves. Chat as Below

cbs stock

30/10/14 – This potential Short trade on the CBS Stock is setting up well with 8/9 of my indicators in the green and the 9th (6/4 MA Low) going into green on trigger. This current Wave 4 pull back has found resistance at the Fibonacci 0.5 level and has now moved out of the Trend Channel in a side ways movement. I am looking at a conservative entry into this potential Short trade, below the Fib 0.382 level, below the low of the last Red bar and below the 6/4 MA Low line.  Stop Sell Order @ 52.70 with the Stop Loss @ 54.81 and the initial Take Profit Limit Order @ 47.50, giving a potential Risk to reward profile for this trade of over 1:2.  If the price does move below these points then the Bullish Pennant forming at the moment will be broken and the  overall Bearish Trend should then continue to form a new Wave 5 Low.Charts as Below for the Setup of this potential Short trade on the CBS Stock.

cbs stock CBS#1 CBS#2osc

paul.bratby@hotmail.com'

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »