30/06/15 – GCI NYSE – This company went through a De-Merger and splitting into two companies during last weekend. This was at first confusing both to me and my broker concerning how this would affect my open CFD trade as my initial trade was on Gannet Inc but one of the new companies in the split was named Tegna Inc, which kept the ticker GCI BUT had a share price around the $14.00 point which was no where near the price of my “In Profit trade” with Gannet Inc. By the middle of the US session yesterday my broker re-opened trades on both companies separately with a NET profit of around 2% on my trading account balance so I immediately closed out the trades. Still a very confusing instance that I have never had experience of before. There is no chart below as hey separately do not exist for the actions my broker took.
23/06/15 – GCI NYSE – The price made a a Wave 5 high during yesterday’s session and importantly closed above the previous Wave 3 high. I have placed a trailing Stop @ 36.54 which is below the trend line taken from Wave 3 and the Major Pivot M. This locks in 0.75% profit on my trading account balance and makes the trade risk free. Chart as Below showing the Trailing Stop placement.
12/05/15 – GCI NYSE – My Stop Buy order for this trade tip toe triggered during yesterdays session and then the price came back down to close at the Trend Channel. The 50 Day Moving Average seemed to act as resistance and a move and close above that in the coming days will indicate the Bullish momentum is gaining on this Wave 5 move. Chart as Below showing the entry into this trade on GCI NYSE.
09/05/15 – GCI NYSE – The support level still seems to be holding with the 35.22 price providing some resistance as it has now been tested 3 times in the last two weeks and failed. I have adjusted my Entry to increase the Risk to reward profile to 1:3 whilst still remaining somewhat conservative with the entry point above the 6/4 MA high and the critical A Pivot on the ABC correction during the Wave 4 pull back. Stop Buy order now @ 35.44 with the Stop Loss remaining @ 33.98 and the initial Take Profit Limit Order @ 40.00. Chart as below for the adjustment to my entry strategy for this potential Long Position on GCI NYSE.
05/05/15 – GCI NYSE – The Wave 4 Pull Back for this stock has found support at the previous support levels tested twice during Wave 3 at the Fibonacci 0.382 Retracement Level forming a triple bottom. Although the Trend Channel is poor and there are only 6/9 of my “With Trend” trade setup indicators in the green, I cannot ignore the technical setup of this potential Long Trade. A conservative entry above the 6/4 MA High line and the $36 price which has acted as resistance and support during wave 3 is the sensible entry strategy. Stop Buy Order @ 36.02 with the Stop Loss @ 33.98 and the initial Take Profit Limit Order @ 40.00, gives a Risk to Reward profile just under 1:2. Charts as Below for the setup of this potential Long Position on GCI NYSE.