03/04/15 – GOGO NASDAQ – I was originally looking at this potential Long trade on the 240 min time frame but now it is lining up better on my more traditional Daily Time Frame with 7/9 indicators currently in the green. The TJ’s Ellipse should be taken out during Monday’s session and give added Support at the Fibonacci 0.5 Retracement Level. The entry strategy also see’s the 6/4 MA High Line being crossed on trigger which will then give 9/9 of my trade setup indicators in the green. Stop Buy Order @ 19.83 with the Stop Loss @ 18.35 and the initial Take profit Limit Order @ 23.00, giving a Risk to Reward Profile of 1:2. Charts as Below for the Setup of this potential Long Trade on GOGO NASDAQ.
19/04/15 – GOGO NASDAQ – With a reasonable bullish move my Stop Buy Order was triggered on the 07 April and then the price became range bound for a week. the last week saw a big Bullish move on Wednesday and Thursday with a bearish Pull back on Friday as a result of the overall Bearish US Market. Importantly a new low was not formed during Friday’s session In line with reducing my Risk on Open trdes and the fact that the price has been over my 50% to target line, I have placed a trailing Stop at 19.97, making this a “Risk Free” Trade. This is below the Trend Line Support for Monday’s bar position and i want to give this trade as much chance as possible to regain it momentum, so Monday’s US market conditions will be critical for this trade. I may decide to manually stop out of this trade during next week if momentum is not regained, but it is too early to tell yet what my strategy will be until I see the price action for this GOGO Stock and the general market conditions. Chart as Below showing the Trailing Stop placement.
20/04/15 – GOGO NASDAQ – My first scalp trade on this stock during my current trading activities on the main trade. After a turbulent opening to the session the price pulled back and found support near the low of the opening 5 minute candle. At 10:55 am (EST) a strong Double Candlestick Piercing line pattern was formed but I was not convinced straight away of a decent setup. Then after range bound period a Bullish Harami Star was formed at 11:45 am after the stochastic has already left the over sold zone. I entered the Long Scalp trade at 20.91 which was above the high of the Doji formed two candles after the original Piercing Line pattern as the initial Bullish move failed at that price. Stop Loss @ 20.82 which was tight under the Hammer Head Candle at 11:45. The Bullish momentum really took hold then and I adjusted my Trailing Stop 1 candle behind the close of the next until I was taken out the trade giving a 3% profit on my trading account balance. Chart as Below.
23/04/15 – GOGO NASDAQ – Yesterday’s session witnessed a new wave 5 high for this current Bullish movement, but a Doji formed for the day, indicating indecision in the market about taking the price higher. I could have taken a nice 1.6% profit during yesterday’s session and there would have been nothing wrong with that decision but I am risk free on the main trade and with a successful scalp in the bag, I am leaving things as they stand for now. I will keep an eye on the price action over the next few days and either manually stop my trade to take profits or realistically adjust my trailing stop to lock in more profits, depending on the price actions. At the time of writing this update the US futures were quite negative and will obviously play a part in a potential pull back way from yesterdays Wave 5 extreme. Chart as below for the update on this GOGO Nasdaq main trade.
25/04/15 – GOGO NASDAQ – The Bullish movement seems to have stalled for this trade and so yesterday I decided to get out of the trade and take 1.5% profit on my trading account balance. So for the 14 day period trading this stock my NET profit was 4.5% and so very happy with the outcome and can move on to the next trades. Chart as Below for the close out of this main trade on GOGO NASDAQ.