03/04/15 – Britvic PLC – My Trailing Stop was taken out on the 1st April, giving a small 0.2% profit on my trading account balance. This tight Trailing Stop was a time stop strategy to ensure no losses on this trade that had been on too long. I will be moving away from trading on Weekly time frames whilst the market remains volatile as the trades simply do not have the momentum to complete targets during these conditions. Chart as Below.
22/03/15 – Britvic PLC – Since the contraction phase was broken at the end of January, the price for this stock has tested the resistance level at 785.00 and failed for the last 3 bars (weeks). I have placed a Trailing Stop at 732.315 to lock in 0.2% profit on my trading account balance but at this stage, more importantly made it a risk free trade. I will look to close out this trade in April if my Trailing Stop is not taken out before unless it doe break through and close above the resistance level and make a new Wave 5 high. Chart as Below for this Trailing Stop Placement.
01/02/15 – Britvic PLC – This trade has been in a contraction phase since entry some 10 weeks ago and last weeks bar shows a break out to the Bullish side with large volume to close near the entry price. The range in price for the one week bat was large but seen before when looking left on this weekly chart. For the Wave 5 Bullish movement to be confirmed, the momentum needs to keep the price above the 6/4 MA High line for next weeks bar and produce a higher high and higher low. At this stage I am looking for the price to rise into a profit making position for this trade, but must also keep in mind that the trade has been on for 10 bars (weeks) now and if the price doesn’t reach the 50% to target by the end of the 13th bar of my trade I will have to consider formulating a Time Stop strategy. I will just keep an eye on the price action during February and make a decision before the end of the month what I am going to do with this slow. Chrt as Below for the update on this slow Long trade on Britvic PLC.
29/11/14 – Britvic PLC – This trade “Tip-Toe” triggered during last weeks session then fell sharply during Wednesday’s session to then regain ground on Thursday back towards the Week’s open price but fell off a little on Friday. There was a larger than average volume traded for this Britvic PLC stock last week and on previous occasions this type of bar pattern has been formed, the following week has been positive. All I can do is look left on the chart and see how this Britvic PLC stock has behaved historically to offer opinion on probable future price action so next week bar/price is critical for the future of this trade. Charts as Below.
01/11/14 – Britvic PLC – This potential Long trade on Britvic PLC is setting up well with 7/9 of my “With trend” trade setup indicators in the green. This profit take pull back is a complex Wave 4 compared to the Simple Wave 2, which is a good Elliott Wave Observation for this type of Setup. Due to the complex Wave 4 I have taken the Trend Channel from The Pivot B, but will be considering a more conservative Entry Strategy above the 6/4 MA High Line rather than the Trend Channel, which will give 8/9 indicators in the green upon entry into the trade. I have used a 10,70 Oscillator as the Wave 3 was over a long time period. The last two bars (weeks) have been strong Bullish movements with higher than average volume, which seems to be building momentum to break out of this profit taking Wave 4 Pull Back. However last weeks Volume was lower than the previous weeks volume so next week could see a consolidation or indeed a fall back to take out the Normal TJ’s Ellipse at around the 613 price. With all this in mind I have decided on a conservative @ 702.00, which is way out of the Trend Channel and above the 6/4 MA High line for next weeks bar position (blue vertical line) and if triggered would surely indicate the Wave 4 Trend has been broken. The Stop Loss is @ 599.00, with the initial Take Profit Limit Order @ 900.00, giving a Risk to reward profile of over my minimum requirement of 1:1.6. Charts as Below for the setup of this potential Long Trade on Britvic PLC.