19/12/14 – As I suspected the price for this Gold Mining Companies Stock continued to rise in yesterday’s session and whilst I was travelling my Trailing Stop was taken out giving a 0.5% profit on my trading account balance. My Net combined profit on this short trade on the Gold Mining Companies Stock was 2.1% profit on my trading account balance and so reasonably pleased with this overall trade. Chart as Below.
17/12/14 – The price for this Gold Mining Companies stock had a positive p. My Net profit on this ullback in yesterdays session and with the Gold price being positive this morning there is every change this PPP NYSE price will rise further in today’s session. I am travelling today and do want to ride the volatility in this stock any more so I have placed a trailing Stop @ 3.58 to lock in 0.5% profit on my trading account account balance. This move allows the stock to work if in deed the Gold price does turn south whilst I am travelling but in reality will take the profit when the price moves up to take out the trialing stop whilst I am travelling. I have had one successful Scalp on this stock so even if I am taken out in today’s session I will have a combined Net profit of 2.1% on this stock in a trade that has only been open for 8 days, so reasonably happy to cut and run on this trade. Chart as Below.
13/12/14 – My first scalp on this relatively young trade on this Gold Mining Companies Stock with my only target set to hedging against a potential loss on the main trade so a Take profit Limit order was set to my minimum required 1.6% profit. After an initial bearish movement at the open to form a Wave 3 on the 5 minute chart the price pulled back up on a classic Wave 4 and found resistance at the 0.5 Fibonacci retracement level taken between Wave 2 and Wave 3. This was further enhanced by the TJ’s Ellipse also holding as resistance at the Wave 4 extreme and the stochastic had pulled up into the Over Bought Zone and crossed against a False bar Stochastic. the 2nd and 3rd Candle after the Wave 4 high formed a strong Double Candle Bearish Engulfing pattern to that indicated that the price had strong potential to return to the overall Bearish trend. I entered the trade @ 3.95 which was below the low of the long Red Candle forming the second half of the Bearish Engulfing pattern, with the Stop Loss just above the Wave 4 high @ 4.06. The trade triggered at 11:40 and then became range bound for the next hour until the Bearish momentum continued. At 13:25 the price broke through the 1% profit line so I placed my Trailing Stop @ 3.90 locking in 0.5% profit on my trading account balance. At 13:55 the price had been below the 1% line for 5 candles (25 minutes) so I adjusted my Trailing Stop to 3.85, locking in 1% profit on my trading account balance. At 14:05 my Trailing Stop was taken out, giving a 1.6% profit on my trading account balance making the main trade now Risk Free on this Gold Mining Companies Stock PPP-NYSE. Chart as Below.
08/12/14 – PPP NYSE – My Stop Sell order for this Gold Mining Companies Stock has triggered during today’s session and then closed near the open price. This trade will be dependent on the Gold price to some extent just like my current open trade on SBGL-NYSE . My other potential Short on SSRI-NYSE was not able to be put on with any of my brokers, so my exposure to this sector is at two trades which I am fine with. Chart as Below for the trigger of this Short trade.
29/11/14 – PPP-NYSE – This Gold Mining Companies Stock is setting well for a potential Short trade with 7/9 of my trade setup indicators in the green. The price gapped down on open for Friday’s session last week as did most Oil and Gold Company stocks, due to the falling price of Oil. The price for this Gold Mining Companies Stock broke out of the Trend Channel and also closed out of it for the half day session on Friday. I have decided on an entry strategy below the low of Friday’s bar and below the 6/4 MA Low line for Monday’s bar position, which will give 8/9 indicators in the green should the trade trigger. There is a DANGER of the price gapping down on Monday’s session open so I will be keeping a close eye on pre market activity with a view of cancelling the order if the gap is too large and negates my Risk to reward profile which currently sits at just above :1.6 with this setup. Stop Sell order @ 3.97 with the Stop Loss @ 4.75 and the initial Take Profit Limit order @ 2.50. Along with my normal indicators I have included the MACD on the chart immediately below to show the Histogram is close to crossing the Zero line from +ve to -ve which is also a good sign for this short trade setup on this Gold Mining Companies Stock. Also note the MACD line also close to crossing the signal line. Charts as Below