03/03/14 – Soon after the session opened the price made a movement down enough to take out the Trailing Stop giving me a 2.9% profit on my trading account balance. I am sure this won’t be the last this week or even today as the markets react badly to the Russian/Ukraine standoff. As below
01/03/14 – Friday’s price action saw the software re-assign the new high as a Wave 3 due to the Elliott Oscillator bars moving higher than the original Wave 3, now breaking the rule for Wave 5 and the original W3 continues (Light Blue hashed line in the bottom Oscillator chart). I have moved the Trailing Stop to the bottom of the original Target Zone ‘ 46.30 which is below the lows of the last 2 bars (days) and locks in 2.9% profit on my trading account balance. I have also adjusted the Take Profit Limit Order to 52.13 (Light Blue solid line at the top of the chart), which is the %% profit line. This is to take advantage of any higher movements in this newly continued Wave 3, As Below
27/02/14 – Yesterday’s price action was quite small but ended, just in positive territory compared to the open price The target price zone is acting as resistance to further movement upwards and I am going to continue with my aggressive trailing Stop Strategy on this trade by adjusting the Trailing Stop to 1 point below the low of two bars behind (in this case 25/02/14) and continue to do so until I am taken out of the trade. Trailing Stop @ 4588 which locks in 2.75% profit on my trading account balance. As Below
25/02/14 – The price has formed a new W5 high today then closed back into the Target zone. I have moved the Trailing Stop just below the low of yesterday @ 4476 which now locks in 2.35% profit on my trading account balance. I will look to move this Trailing Stop each day as long as the price has higher lows and higher highs. As Below
22/02/14 – Friday’s (21/02/14) saw the previous day’s massive price rise strengthened with the price reaching new highs and forming a new W5 High. I have moved the Stop Loss to 4349 to protect 1.9% profit on my trading account balance. This is quite an aggressive money management strategy at this stage but with massive price rises could come massive price drops and I want to protect against that. What does give me confidence in further price rises is the fact that the price closed at it’s high which usually means there is more in the tank for the sessions ahead. With that in mind I have also adjusted the Take Profit Limit Order (TPLO) to 4935 (4% profit line) above the target zone in the hope of capturing more profit. I intend to manage this trade with a trailing Stop Loss and adjusting the TPLO up as the price rises in a bid to take advantage of a new bullish trend that could occur if the markets continue to strengthen. As Below
21/02/14 – Massive price action UP during yesterday’s session witnessed a W5 being formed and the price closing high, around the 2% profit line. I have moved the Stop Loss to 3858. just above the break Even point and below the lows of the last 3 bars (days), which now makes this a Risk Free Trade. As Below. It will be interesting to see if there is more movement today or a consolidation of the price. I will look to adjust the Stop Loss after today’s session to protect some profit.
06/02/14 – BUY order was triggered near the beginning of the session and the trade is on. The Elliott Oscillator didn’t break the 140% line although it was at its limit. As Below
05/02/14 – Another potential trade with 8/9 indicators in the green. The Risk to Reward is looking good at 3 x the risk, so good potential profit. Again, though, the next few days are critical in the US Markets for this trade. I have put a BUY order in which is way out of the Trend Channel and 1 point above the high of yesterday which broke and closed above the Trend Channel – BUY order @ 3832 with a Stop Loss @ 3544 and Take Profit Limit Order @ 4700. As Below