03/04/15 – I Time stopped this trade on the FTSE Stock Hays PLC an the 1 April in line with my plans for the three long term trades on FTSE Stocks carried over from the last Financial Year. This gave me a 0.62% profit on my trading account balance. I will no longer be trading off the weekly time frames during these volatile markets as the price action and momentum struggle to find the target for my profits. Chart as below
22/03/15 – This FTSE Stock, Hays PLC, has become range bound over the last 3 bars (weeks) and tested the Trend Line Support for the third time last week. I have adjusted my trailing stop to 145.965 which is below the low of the large red bar of 4 weeks ago which started my production of the potential trend line support. This now locks in 0.3% profit on my trading account balance and as with my other two FTSE Stock long term trades on BVIC and RPC , I want to carry these trades into April to take profits in my new financial year. Chart as Below.
22/02/15 – The FTSE Stock made a new Wave 5 high during last week that tipped the 50% to target line. As the Bullish momentum seems to be strong now, I have placed the first Trailing Stop @ 140.5, which now makes this trade a “Risk Free” trade. I will now look to manage this trade conservatively with Trailing Stops and adjust after each weekly bar. Chart as below for this Trailing Stop placement on my trade on this FTSE Stock Hays PLC.
06/12/14 – This FTSE Stock had a a good volume week and triggered my Buy Order to enter the trade. The price closed near the week’s high and above the entry price indicating the Bullish momentum should continue into next week. My longer term trades on Weekly Charts out number my Mid term trades on Daily charts which is a little concerning as I like to keep the balance the other way around. My watchlist is also weighted towards potential trades on Weekly Charts so I need to make a priority to find strong potential trades on the Daily time frame for the new year and the start of my 4th Quarter. Charts as below for the entry into this FTSE Stock trade on Hays PLC.
29/11/14 – I have recently been short on this FTSE Stock with a profitable outcome, but on a Daily time frame and the trade diary can be seen HERE. Now this FTSE Stock is setting up well for a Long Trade on the Weekly time frame with 8/9 of my trade setup indicators in the green and the Fibonacci 0.5 retracement acting as support. I have used the 10,70 Oscillator for this setup as the Wave 3 has been on since July 2012 and warrants the longer MA’s for this move. Last weeks bar open and closed above the 6/4 MA High and the Trend Channel, indicating the Wave 4 Bearish Pull Back is over. I still remain cautious with the entry strategy for this potential trade and have included a view of the Daily time frame (second chart below) to show that the entry is above the previous Wave 4 high I used to go Short in October. Due to my very conservative entry strategy the Risk to reward is right on my minimum requirement of 1:1.6 and is just in the target zone. I have placed the Stop BUY order @ 137.10 which is way out of the Trend Channel, way above the 6/4 MA High and above the 0.25 Fibonacci retracement taken between Wave 2 and Wave 3. The Stop Loss is @ 107.50 with the initial Take Profit Limit Order @ 190.00. Charts as Below for the setup of this potential Long trade on this FTSE Stock, Hays PLC.