08/05/15 – The Support level has been holding for this GMCR Stock for the last two months since I put the order on but last week was very negative for this stocks price and it broke down through the support level. I have cancelled the order as there is no entry strategy at the moment and I am moving away from trading off Weekly time frames this year during these volatile times. Chart as Below
08/03/15 – With 7/9 of my trade setup indicators in the green, this Long Trading opportunity on the GMCR Stock is looking good. The Trend Channel is below my required 0.9 so the 6/4 MA high line comes in for my entry strategy and once crossed will give 8/9 of my indicators in the green. The price found support at the Fibonacci 0.5 Retracement level and rejected that price level during the same Daily session. The 50 Day Moving Average (yellow MA line) and the TJ’s Ellipse also acted as support. It is also worth noting that the MACD Histogram profile is tending towards the zero line and crossing that around entry would be a positive sign for this potential trade. Stop Buy Order @ 133.45 which is above the Fib 0.25 retracement line, out of the Trend Channel and above the 6/4 MA High line for next weeks bar position (blue vertical line). Stop Loss @ 108.96 and the initial Take Profit Limit Order @ 180.00 which gives a Risk to reward Profile above my minimum 1:1.6. Charts as below for the setup of this GMCR Stock trading opportunity.