14/05/15 – Allianz SE Stock – The Wave 4 Pull back has broken the 0.618 Fibonacci Retracement level and a major Elliott Wave rule so now it is confirmed in a potential Bearish trend so I have cancelled my Stop Buy order for this potential trade. German stocks are suffering with the resurgence of the Euro and the Greece issues. Chart as Below.
09/05/15 – Allianz SE Stock – The TJ’s Ellipse has now been taken out on this Wave 4 Pull back and the price has found a more natural and stronger support level in line with that of the structural support during the Wave 3. There are still 7/9 indicators in the green as the Elliott Oscillator 140% has been violated, with the 8th going green before entry (6/4 MA high line). I have adjusted my Stop Buy order to reflect the new low of the wave 4. Stop Buy Order@157.50 with the Stop Loss @ 145.50 and the initial Take Profit Limit Order @ 185.00, giving a Risk to reward profile over 1:2. Chart as below for the adjustments to my entry strategy for this potential Long Position on the Allianz SE Stock.
05/05/15 – Allianz SE Stock – The Wave 4 Profit take pull back for this German stock has found initial support near the Fibonacci 0.5 Retracement Level taken between Wave 2 and Wave 3 extremes, which was a major resistance level during the Wave 3. There are 7/9 indicators in the green for this potential Long position with 8th going green before entry above the 6/4 MA high. The price may yet still test the support level and take out the TJ’s Ellipse so I have opted for a reasonably conservative entry to ensure that the Wave 4 bearish pull back is effeminately broken before entry. Stop Buy order @ 160.16 with the Stop Loss @ 149.50 and the initial Take Profit Limit Order @ 182.00, giving a Risk to Reward Profile of 1:2. If the order does not trigger in the next couple of days I may adjust the entry lower but still remain above the 6/4 MA High line. Charts as below for the setup of this potential Long Trade on the Allianz SE Stock.