Thursday, December 3, 2015
Short setup on Nedbank
This is the second setup on the short side for Nedbank in less than a month. I missed entry on the previous occasion as it moved out of the blocks too quickly and in the context of the overall market weakness there may well be another downward surge away from our entry point tomorrrow however, the setup details are as follows as a result of the 3LB breaking its previous swing low: Entry zone between R201.53 and R203.99 with a stop in as a close above R206.44 and downside targets at R196.62/R191.71 and R189.26
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Another missed entry with my stop order set at R203.99 and it didn't trade that high on the pullback before falling away. I'm going to consider changing the pullback entry level to perhaps the median of the entry zone as there have been a number of missed entries happening of late
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