19/04/15 – FAF NYSE – My Trailing Stop was taken during Friday’s monster negative session on the US markets, giving a 0.2% profit on my trading account balance. This time stop strategy has worked ok for me even though a green Doji formed last week and there is potential for moves High I needed to get out of this longer term trade so not to incur charges. My Total NET profit for my trading activities on this FAF NYSE stock during the last month is 9.2% on my trading account balance. this somewhat ranged Bullish move on FAF NYSE does potentially lead to further successful scalps in the near future and so I will be actively looking out for these over the coming weeks. Chart as below showing the close out.
16/04/15 – FAF NYSE – After two great scalps I have decided to be more aggressive with my Time Stop strategy and have adjusted my Trailing Stop to 35.45, locking in 0.2% profit on my trading account balance for the main trade but importantly making it risk free and protecting my profits. The trailing stop position is below the Trend Line Support and 1 point below the small 4 pivot low as highlighted in the chart. I really want to get out of this trade before the end of the week and just Scalp an more setups in the near future if the momentum higher continues in this range, so may close out before end of session Friday. Chart as Below.
14/04/15 – FAF NYSE – My second scalp on this trade and my first scalp of April. The price dropped for the first 30 minutes of today’s session until 110:05 am when an Abandoned Baby Hammer Head was formed that was then engulfed by a strong positive candle (highlighted with blue ellipse on chart). I placed a Buy order @ 35.86, just one point above the high of the engulfing candle. The trade was entered at 10:20 am then became range bound for the next hour before a large momentum move started. I managed this trade then with trailing stops until the price reached the previous Pivot B High from yesterday’s session (36.22) , where I closed out the trade to take a 5.5% profit on my trading account balance. I have been very patient this month as far as scalping is concerned as the good setups were just not occurring. My patience has definitely paid off. Chart as Below.
12/04/15 – FAF NYSE – This main trade has now been on fro 20 bars (days) and is pretty much range bound and no way near 50% to my target zone. My initial Time Stop Strategy for this trade is to adjust the Stop Loss to 34.68 which is just below the M pivot (highlighted) so I only have 0.15% of my trading account balance at risk and so protecting most of my profit from my Scalp trade in March on this stock. I will make a decision on time stopping out my stock during next week and let the price action dictate my decision somewhat. Chart as below.
24/03/15 – FAF NYSE – My first scalp on this stock during what has become a range bound period on the Daily Time frame main trade. After a large Bullish move at the beginning of yesterday’s session the price pulled back towards the lower bound of the price range it has found its self in for the last week. At 12:15 pm the Stochastic crossed and a Bullish Harami Cross pattern occurred indicating the bearish movement was at exhaustion. Entry was on the following candle @ 35.34, again 1 point above the high of the Red candle forming the first half of this exhaustion pattern. Stop Loss @ 35.27. As with all my scalps I was quite aggressive with my Trailing Stop placements and adjustments until at 14:15 pm my Trailing Stop was taken out giving a 3.5% profit on my trading account balance Charts as Below for this first scalp on FAF NYSE.
13/03/15 – FAF NYSE – A very strong entry into this trade with high volume in yesterdays session and a close near the Daily high and way above the 6/4 MA High line. Another strong bullish day today with a higher High and higher Low will confirm the momentum of the 5th Wave for this stock. Again, like my other new trades on MENT-NASDAQ and FNF-NYSE, I am looking for a positive close today and for the week above the entry price. Chart as Below for the entry into this long position on FAF NYSE.
12/03/15 – FAF NYSE – With 7/9 of my “With Trend” trade setup indicators in the green, this potential Long position on FAF NYSE is looking strong. The Fibonacci 0.382 Retracement level is acting as support along with the TJ’s Ellipse. A large volume in yesterday’s session, with nearly 2 million share traded, helped the price for this stock pull away from the Wave 4 low. Further confirmation is needed that the profit take wave 4 is over even though the price closed out of the Trend Channel yesterday. It is also worth noting that the Wave 2 was extremely complex compared to the Wave 4 and that the Wave 3 was also very long so I have used a 10,70 Elliott Oscillator compared to my normal 5,35. I have decided on a conservative entry strategy above the the 6/4 MA High line for today’s bar position (blue vertical line) and also above the Fib 0.25 retracement level taken between Wave 2 and Wave 3 extremes. Stop Buy Order @ 35.02 with the Stop Loss @ 32.84 and the Initial Take Profit Limit Order @ 40.75 which give a Risk to reward profile near 1:3. Charts as Below for the setup of this potential long position on FAF NYSE.