16/10/14 – INFA NYSE – After being in the main trade for 23 bars (days), being in negative profit territory for the majority of the trade, taking great profits on two scalp trades recently and the trade not really gathering momentum, I decided to manually Close the trade and take 0.25% profit on my trading account balance. With the Scalp trades a Net 3.45% profit on my trading account balance for this Short trade experience with INFA NYSE is very acceptable and then free’s up margin on my trading account for future trades when the markets settle down. Chart as Below.
16/10/14 – INFA NYSE – Second Scalping opportunity that took the majority of this session to setup and was discussed during the live trade room session. After the gap down at open the price corrected back up to close the gap and form the Wave C in a potential ABC correction. This type of Upward ABC correction against the previous Bearish trend can be a good indication, if completed, that the overall bearish trend will continue. The first Fibonacci retracement to confirm the B pivot in the correction is taken from the Low (previous C pivot on 15/10/14) and the new A Pivot (end of session on 15/10/14), where most corrective B pivots turn at the 50% retracement with the max being the 0.618 – This particular movement met this requirement and some would say the most important when setting up this type of trade. The next calculation is from two Fib extensions that form potential zones for the Wave C to form and in this case I was concentrating on the zone between the Wave A high and the 127% extension of the A-B movement. The important factor was for the Wave C to exceed the high of A into this zone and then the price trades back into the range of Wave A. In this case that initial action did occur around 13:40 (EST) and then combined with the stochastic turning in the over bought zone and a Bearish Piercing line pattern forming with the candles at the pivot. Although I was running in towards the end of this session the setup was strong enough to scalp, even if I had to manually close just before the end of the session. Stop Sell was placed@ 32.41 which was below the two full candle lows to the left of the Wave C high, giving a conservative entry into this Short Sell Scalp trade. Stop Loss just above the Wave c high @ 32.54 with my standard Take Profit Limit Order giving 1.6% profit @ 32.23. The trade triggered the very next bar and once the spinning top Doji was formed at 14:30 (EST) I placed a trailing Stop @ 32.36 (just above the high of that candle) to lock in 0.5% profits on the trade. At 14:40 (EST) my Take profit Limit Order was taken out giving a 1.6% profit on my trading account balance. The charts below show trade in order of action with the top chart showing the the close.
14/10/14 – INFA NYSE – The Bearish Momentum is back with this trade at long last and this scalping opportunity has setup well on a 5 minute time frame with a Bearish Engulfing pattern occurring at the extreme of a Wave 4 pull back on the overall bearish trend and the stochastic crossing in the over bought zone. I decided on a conservative entry for this Short Scalp @ 32.59 which is just below the support level on the initial wave 4 where 4 candles found exact same lows so obviously this being broken is further confirmation of a strong bearish movement. The trade triggered at around 12;30 pm (EST) and then hit my take profit limit order at round 14:15 pm (EST) before the end of the session, giving 1.6% profit on my trading account balance. Chart for whole trade as Below (sometimes I am too busy to take more screen shots, especially during my online live trading room sessions).
15/09/14 – INFA NYSE – This Short trade has triggered during the first 15 minutes of today’s session, some 10 days since I put on the Stop Sell Order. There has been momentum building back towards the overall bearish trend over the last week and even though my entry was conservative, there is still a Risk to reward ratio for this INFA NYSE Short trade of 1:2. Critical for today is to close below the entry level and then build momentum during the week towards the 31.00 level. Chart as below for the entry into this Short trade on INFA NYSE.
05/09/14 – INFA NYSE – This potential short trade setup has 7/9 of my indicators in the green and is setting up well. Barclays did downgrade this stock yesterday which certainly helped the moment down from the Wave 4 extreme set the previous day. Now, one could say that a number of Barclays traders have been Short this trade for some time and the move to downgrade yesterday was an attempt to return the stock to its overall bearish trend at what is a natural point for a Wave 4 pull back. The price has closed the recent Gap down with this Wave 4 pull back and hit the mid term trend line resistance taken from Wave 2, which as acted as strong resistance during the Wave 3 movement. There is plenty of potential Risk to Reward in this INFA NYSE short trade setup so again, I am looking at a conservative entry. The Stop SELL order is @ 32.73 which is out of the Trend Channel for today’s bar position and also below the 6/4 MA Low line, giving 8/9 indicators in the green upon trigger. The Stop Loss has been placed @ 35.08 which is above the Wave 4 extreme but also above the high of the Daily bar just before the gap down which offers support. Initial Take Profit Limit Order @ 28.07, giving a Risk to Reward of 1:2. Charts for this potential Short setup for INFA NYSE are below.