07/12/14 – None of my Brokers will accept my Short trade on this Silver Producers Stock so this is one that has possibly got away. Sometimes the borrowing costs for brokers on short position with low value is just too much and they restrict trading to Long Positions only, especially with Contracts for Difference products. I am not too concerned as they took my Short trade on PPP-NYSE and I already have an open position on SBGL-NYSE so my exposure to the precious metal mining sector is fine. There is no chart as there is no trade anymore.
29/11/14 – The Silver producers Stock price gapped down to open Friday’s session and then closed below the 6/4 MA Low line to give me 9/9 indicators in the green for my trade setup on this type of “With trend” strategy. Also note on the first charts below the MACD is close to crossing, which is also a good indication. There is still enough Risk to Reward for this potential Short trade if the price doesn’t gap down too much on Monday’s open. Again just like my other order on PPP-NYSE , I am going to have to keep a close eye on the pre-market action for this stock to ensure if I leave the order on, that I get a good enough Risk to reward with the trade. Stop Sell Order set @ 5.15 which is $0.02 lower than Friday’s low. Stop Loss @ 6.33, which is more conservative above the Fibonacci 0.618 retracement level taken between Wave 2 & Wave 3, which is acted as resistance for the Wave 4 Extreme. The initial Take profit Limit Order is @ 2.80 giving a Risk to reward ratio above my minimum 1:1.6. If there is a gap down in pre-market price action I will leave the order on as long as the price is above 4.88 as this will still give me Risk to Reward of 1:1.6 at the target zone. Charts as Below for the setup of this potential Short trade on this Silver producers Stock.