This is an example of the initial stages of a Blog Post on my Live Trading Diary. This is for the Stop BUY Order for a potential LONG Position in EXPD-NASDAQ today 19th June 2014. You can subscribe to my live trading diary HERE
19/06/14 – The Trend Channel is taken from the Main Pivot B as this is a complex Wave 4 pull back against a strong Bullish Major Trend that had a Simple Wave 2 which fits well with a major Elliott Wave Observation. There are 8/9 indicators with a Risk to Reward Ratio of over 1:3. The shorter and lower of the target zones is taken from Pivot B and may act as resistance to further upward movement to the major Target Zone at 47.50. Stop BUY Order @ 44.84 which is reasonably conservative out of the Trend Channel for Today’s bar position and above highs of the last two bars (days). The Trigger point is also above the 0.25 Fib retracement line taken between Wave 2 and Wave 3. Stop Loss @ 44.10 and the initial Take Profit Limit Order @ 47.50, As Below
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