09/09/14 – My Trailing Time Stop was taken out on this Google Stock trade in the first half of today’s session, taking a 1% profit on my trading account balance. Both the US and UK markets have been negative today and I feel totally justified in making the move overnight to protect more profit on this trade as I do not want to ride this Google Stock price back down again. Chart as Below
09/09/14 – The Google Stock price continued its Bullish momentum and closed yesterday’s session above the magical $600 price. I have decided to be more aggressive now with the placement of my Trailing Time Stop and adjusted it to just below the low of Friday’s bar. This position still allows the trade to continue on its current Bullish movement, but protects profit if the market decides to take profit again as I am not interested in taking part in that ride as I am in Time Stop strategy mode. The Trailing Time Stop for this Google Stock trade is at 59329, which locks in 1% profit on my trading account balance. If the momentum continues today with a higher high and a higher low I will adjust the Trailing Time Stop to just below the low of yesterday’s bar. Chart as Below
06/09/14 – This Google Stock trade has been on for 17 bars (days) now and I have to start thinking of a time stop strategy. Some considerations to bear in mind with this particular trade are that this Wave 5 movement is forming a classic AB=CD correction pattern at the moment, where A is the Wave 4 extreme and the remainder are labelled on the chart below. Also the resistance level projected from the Pivot at B intersects the main trend line for this Wave 5 movement and the projected D position. These can be seen as strong technical indicators and that there is still a little left in this trade and a sensible target for this Long trade in the Google stock would be around this level. With this in mind I have placed a Trailing Time stop @ 581.53 to make this now a “Risk Free” trade and allow it time to work towards the 608.00 price. If the momentum continues next week, with higher highs and higher lows, I will be more aggressive with my Time Trailing Stop adjustment. The initial target at the 630.00 price may be out of reach as the markets seem to be at a stage of potential correction to the downside and so I can’t get drawn into holding onto this trade just because of the brand Google. Chart as Below for the changes to this Google Stock trade.
13/08/14 – This Long trade on the Google Stock has triggered at the beginning of today’s session. It has also crossed the 6/4 MA High line on its way to trigger, which gives 9/9 of my trading indicators for this type of “with trend” trade in the green!! I would like to see the price close above the entry point today or at least before the close of Friday’s session, along with the stochastic moving out of the over sold zone. These two points will give me confidence that the trade has momentum going into next week. Chart as Below.
09/07/14 – Friday’s session was very positive for the Google Stock price, punching it’s way out if the wave 4 pull back Trend Channel and more importantly closing out of it and near the high of the day. I have adjusted the Stop Buy order down a little to 580.50, which is obviously way out of the Trend Channel for Monday’s bar position (blue vertical line) and above the highs of the last 4 bars (days). There is a danger with this new buy order being so close to the closing price of Friday, in that the price for this Google Stock could gap up on open which will affect the Risk to reward Ratio. I will therefore keep a close eye on the pre-market trading on the following link which is a great resource for both pre-market and after market trading ( http://www.nasdaq.com/symbol/googl/premarket ). This adjustment improves the Risk to Reward ratio to around 1:4 which in theory gives, potentially, a more profitable reward for this Google Stock trade if the trade triggers. The Stop Loss remains the same. Chart as Below
07/08/14 – This potential trade setup for the Google Stock looks good with 8/9 of my indicators in the green. A new Wave 4 extreme was formed yesterday and took in the TJ’s Ellipse which I would look to now for support. I have opted for a quite a conservative entry into this Google Stock trade @582.00. This is way out of the Trend Channel for today’s bar position (Blue vertical line) and above the highs of the last two bars (days). The Stop loss is placed @ 567.00 and the Take Profit Limit Order is @ 625.00 giving a Risk to Reward Ratio of 1:3. The next two days are critical for this potential trade on the Google Stock, in that the new support level has to hold and good momentum is required to trigger the trade. See Charts below