02/04/15 – FTR NASDAQ – The pull back for this stock has now turned into a correction and possible trend reversal. This is no longer a Wave 5 setup and therefore I have cancelled my Stop Buy Order. Chart as Below
29/03/15 – FTR NASDAQ – Last Friday’s price action made a slightly new low to form technical Double Bottom and a move above the Pivot M where my original entry was would be significant to this potential Wave 5 Bullish Move. There are still 8/9 indicators in the green with n entry above the 6/4 MA high making a full set. I have adjusted the Order to compensate for the new low and moved the entry price slightly higher. Stop Buy Order now @ 7.63 which is above the Pivot M and the smaller Pivot iv. Stop Loss @ 7.19 and the initial target at 9.00. Chart as Below for the adjustments to this Order on the potential Long Trade on FTR NASDAQ.
19/03/15 – FTR NASDAQ – The wave 4 pull back has found support at the Fibonacci 0.5 Retracement level taken between the Wave 2 and Wave 3 extremes, which is backed up by the TJ’s Ellipse also holding as support at this level. The setup is looking strong with 8/9 of my trade setup indicators in the green and with the 6/4 MA high having to be crossed before entry, it will make a full set of 9/9. I did place the order yesterday @ 7.61 and the price came with $0.01 of my entry price and then closed below the 6/4 MA for the session. The entry level remains the same today but I must be aware of ant pre market action on this FTR Nasdaq Stock and be prepared to cancel the order if there is likely to be a gap up that takes away my Risk to Reward profile. Stop Buy Order ‘ 7.61 with the Stop Loss @ 7.22 and the initial Take profit Limit Order @ 8.80, which gives a Risk to Reward profile around 1:3. Charts as Below for the setup of this potential trade on FTR Nasdaq.