08/02/15 – The Setup for this FTSE Stock SMDS is looking strong with 7/9 of my trade setup indicators in the green and the 8th, 6/4 Moving Average High Line going green just before trigger. There has been a complex Wave 4 pull back against a simple Wave 2 that has found strong support at the Fibonacci 0.25 retracement level. The TJ’s Ellipse has been taken out and is also holding as support as well as the the 50 Day Moving Average. The volume has been lowering in a contraction pattern during this wave 4 pull back which is another sign this bearish move is running out of juice. I have taken the trend Channel from the Main B Pivot as the wave 4 is complex and as this is below my desired 0.9 I have decided to use the 6/4 MA High line s my minimum point of entry. So a conservative entry strategy above the 6/4 MA high line and the highs of the last 8 bars (days), s0 giving a Stop Buy Order @ 323.60. Stop Loss @ 309 which is well below the Wave 4 low and combined with the initial Take Profit Limit Order @ 350.00 gives a Risk to Reward profile of my minimum desired 1:1.6. Chart as below for the setup of the potential Long Position for this FTSE Stock SMDS.
10/02/14 – This FTSE Stock made a new Wave 4 low in yesterday’s session and i still trying to find its support level during this negative start to the trading week. At this moment I have not adjusted the Entry Level but obviously adjusted the Stop Loss to 306.00 in compensation for the new low. The Initial Target level has also adjusted to 354.00, which is just within my minimum Risk to reward Profile of 1:1.6. There is still a way to go until a final entry strategy is confirmed and much will depend on the overall FTSE performance this week. Chart as Below for the New setup for the potential Long Trade on this FTSE Stock SMDS.
12/02/15 – This FTSE Stock seems to have finally found support and is having a strong Bullish session so far today with a large move higher. All of my original 7/9 indicators remain in the green and I have adjusted my order to enter just above the 6/4 MA High line for today’s bar position which would give 8/9 indicators in the green upon entry. Stop Buy Order @ 320.50 with the Stop Loss adjusted to 303.50 and the initial Take Profit Limit Order now @ 358.00. Chart as Below.
13/02/15 – With a large Bullish price movement, my order for this FTSE Stock SMDS was triggered during yesterday’s session. After such a large movement to trigger I would suspect that today will be more of a consolidation around the entry level and would look to see a continuation next week. My main indicator will be for the price to close above the 6/4 MA High the end of the week. Chart as Below for the entry into this Long Trade on the FTSE Stock SMDS.
20/02/15 – The Strong Bullish momentum for this FTSE Stock over the last two days has taken the price above the resistance level taken from the Main B Pivot. The Volume has consistently been higher than average for this move which is also a good indication of strong momentum. As the price closed above the resistance level and the 50% to Target line yesterday, I have placed a trailing Stop @ 324.78 to lock in 0.25% profit on my trading account balance and make this a “Risk Free” Trade. Further adjustments of the Trailing Stop will be next week and will depend on continuation of momentum higher and the previous resistance level holding now as support. Chart as Below
22/02/15 – Another new Wave 5 high was formed for this trade on the FTSE Stock SMDS during Friday’s session. Importantly Friday’s bar was clear of the resistance level taken from the main B Pivot and closed near the Day’s high, indicating the momentum is still with this Bullish movement. The previous resistance level will now act as support so I have adjusted the Trailing Stop to 333.20 below the lows of the last 3 days and now locking in 0.75% profit on my trading account balance. Chart as Below for the Trailing Stop adjustment on this FTSE Stock trade on SMDS.
24/02/15 – Yesterday’s session was another strong day for this FTSE Stock SMDS and originally I adjusted my Take Profit Limit Order to 364.00 but he volume was just not there and had been falling each day, so I closed out the trade t 359.60. To take 2.3% profit on my trading account balance for this trade s very acceptable s the trade has only been open for 7 trading days and the majority of my other open trades are now Risk Free or in fact he locked in profits with Trailing Stops. Chart as Below for the close of this quick trade on the FTSE Stock SMDS.