09/05/15 IPXL Nasdaq – With 7/9 of my trade setup indicators in the green, this potential Long Position is looking strong. the Wave 4 pull back has found initial support at a previous level in the Wave 3 between the Fibonacci 0.25 and 0.382 Retracement levels. There is a chance that the price could test this again or in fact look to move to the 0.382 Fib level and take out the TJ’s ellipse, so I have been conservative on the initial entry strategy with a view that if my entry price is reached then there is a high probability that the Bearish Wave 4 pull back is well and truly over. Stop Buy Order@ 48.02 with the Stop Loss @ 44.09 and the initial Take profit Limit Order @ 55.00, giving a risk to reward profile of my minimum requires 1:1.6. Charts as below for the setup of this potential Long Position on IPXL Nasdaq.
14/05/15 – IPXL Nasdaq – This potential Long trade is just hanging on even thought he Wave 4 has found a new low that was rejected. I have adjusted the Order as follows: Stop Buy Order @ 47.12 with the Stop loss @ 41.97 and the initial Take profit Limit Order @ 56.00 giving my minimum Risk to reward of 1:1.6. Charts as below showing the new order for this potential Long Position on IPXL Nasdaq.
30/05/15 – IPXL Nasdaq – My trade order on this stock triggered during Friday’s session then closed around the entry price for the weekend. Since getting above the 6/4 MA High there has been higher highs and higher lows ezch day so the momentum looks like it starting to build and the 5th Wave has started. Chart as Below for the entry into this trade on IPXL Nasdaq.
02/06/15 – IPXL Nasdaq – First scalp on this stock during yesterday’s session. A classic pull back during the second half of the US session for this stocks price after such a strong bullish morning. As usual my setup was strong with the stochastic turning in the over sold zone against a false bar stochastic (yellow horizontal line on stochastic study top). A Bullish Harami cross also formed at 14:35 indicating a reversal of this Bearish pull back was a strong possibility. I was very conservative with my entry above the Fib 0.25 Retracement level as this was my first scalp on what is a new main trade. The Risk to reward profile was way within my parameters as my minimum 1:1.6 was below the previous high made during the session. Trade entry was @ $48.54 at 14:45 pm. At 15:15 pm I manually closed the trade as happy with my minimum take profit level of 1.6% profit on my trading account balance, considering I had already had a successful scalp on WBA during this session. Chart as Below for this first Scalp on IPXL Nasdaq.
12/07/15 – IPXL Nasdaq – I decided to time stop this trade on Friday at the Break Even point as the main trade has been on far too long and i want to reduce my risk during these uncertain market conditions with Greece and China weighing heavy. So just a NET 1.6% profit on my trading account balance during the last month on this stock which is a sign of the current state of the markets. I am holding my head above water and learning every day to adjust my strategies. Chart as below.