10/02/15 – The Setup for the potential short trade on this NASDAQ GS Stock has failed and the price is now confirmed in a Bullish Trend. Also my broker charges for this Short trade were way too much. I have therefore cncelled the Stop Sell order. Not all Setups make it to the starting line. Chart as Below.
08/02/15 – This NASDAQ GS Stock, Vanguard Natural Resources acquires and develops Oil & Gas properties and is in a similar situation as HFC-NYSE which I have also placed a Sell order for today. This stocks Bullish pull back has tracked the Bullish pull back of the Oil Price and has now found resistance at the previous M Pivot from December 2014. The resistance level has also been found around the Fibonacci 0.382 Retracement level and taken out the TJ’s Ellipse. There are currently 7/9 of my trade setup indicators in the green as the Stochastic has not crossed over in the over sold zone, but any Bearish movement on Monday will have that crossed. As with my other order on HFC-NYSE I am looking at a conservative entry so that I can observe the price action at the beginning of the week for Oil. Stop Sell Order @ 15.59, which is way out of the Trend Channel and just below the Fib 0.25 Retracement level. Stop Loss @ 18.51 which is a conservative placement above both the Wave 4 High of Friday and above the M Pivot from December. The initial Take Profit Limit Order is @ 9.25 giving a Risk to Reward profile over 1:2 for this potential short on the NASDAQ GS Stock VNR. Again the Oil price movement will have an affect on the price f this stock and I will be keeping a close eye on this on Monday. I also must be aware of any major gap down from pre market action if the Oil price does suffer heavily on Monday. Charts as Below for the setup of this potential short trade.