12/07/15 -HUM NYSE – Since the massive Bullish Day at the end of May the price for the HUM NYSE stock has been in a Wave 4 bearish profit taking pull back. It has now found support at the previous highs of the range bound period before the Bullish move higher and the Fibonacci 0.382 Retracement level taken between the Wave 2 and Wave 3 extremes. There are currently 7/9 of my trade setup indicators in the green with an 8th, 6/4 MA high, going green before entry. As the markets are extremely volatile due to both Greece crisis and China, I have decided on a conservative entry into this trade which would indicate that a move back toward the previous Wave 3 high and beyond is likely. Stop Buy order @ 196.61 with the Stop Loss @ 181.75 and an initial Take profit Limit Order @ 2300.00, giving a risk to Reward profile over 1;2. Importantly there is 1:1.6 Risk to reward at the previous Wave 3 high. There is a possibility of large gaps on the open of the markets on Monday so I will not be placing the order until the markets have opened and the price for this stock is within he range between my entry level and stop loss. Charts as Below for the Setup of this potential Long Position on HUM NYSE.
25/07/15 – HUM NYSE – The price made a new Wave 4 low during Friday’s session to break my initial setup. This stock has endured large range bound periods before and doesnt look like it will gather the momentum needed to break up and form a Wave 5. I have therefore cancelled my Stop Buy order and going to move onto stocks that have a better opportunity. Chart as Below