Potential outside week and bearish potential for SLX

Sep 2

Entry conditions:
(i) lower share price for SLX below the level of the potential outside week noted on 30th August.

Stop loss for the trade would be:
(i) above the swing high of 26th August (i.e.: above $4.61), once the trade has activated.

Sep 8

Trade active

UPDATE (week ending 06-Sep): Trade activated 3rd September with share price closing below 10 and 30 day MA's at the end of trading week. Suggestion to potentially lower stop losses to slightly above the gap down that occurred on 4th September (i.e.: above $3.69 depending on risk tolerance) in order to secure profits in the event of a snap-back in commodity prices.

Sep 15

Trade closed: stop reached

UPDATE (week ending 13-Sep): Depending on risk tolerance, consider closing out position since prior swing high had been breached, as noted last week - observe indicators below which are weakening for bearish activity (remove from watchlist).