28/06/15 – XRS NYSE – My Trailing Stop was taken out at the end of last week to give 0.75% profit on my trading account balance. This is one of three outstanding and mature trades on weekly time frames and I will look to close out the other two GRI-LSE and KEP-NYSE, in the next few weeks. Chart s Below
25/04/15 – XRS NYSE – Another weekly bar with a Higher High and a Higher Low for this trade and as such I am adjusting my Trailing Stop to 34.85 which now locks in 0.75% profit on my trading account balance. The momentum does seem to have slowed over the last couple of weeks due to the mixed markets I think so my trade management strategy may stall until momentum gather again. Chart as Below showing the Trailing Stop adjustment for this trade on XRS NYSE.
19/04/15 – XRS NYSE – Despite the very negative US market on Friday this stock did not suffer to badly with the weekly bar forming a Doji which could most likely be a a continuation pattern of this strong Bullish Trend. However with these volatile markets I am taking no chances and therefore have adjusted my Trailing Stop reasonably aggressively to 33.58 just under the low of the candle of two weeks ago. If next weeks bar does not make a lower low than last weeks bar then I will adjust the Trailing Stop up and then look to trail 2 bars behind until taken out. This move now locks in 0.5% profit on my trading account balance. Chart as Below showing my Trailing Stop adjustment for this trade on XRS NYSE.
12/04/15 – XRS NYSE – Long Position – The Bullish momentum has gathered pace during the two months this trade has been open with the price breaking though and closing above the 50% to target zone in last weeks session. I have placed a trailing Stop @ 31.55 above the entry level making this a “Risk free Trade” and will look to aggressively adjust this after next weeks session closes. Chat as below for the update and Trailing Stop placement for this Long Position on XRS-NYSE.
01/02/15 – My Stop Buy Order for this XRS-NYSE Stock was triggered last week with the price closing around the entry price for this long position on the Weekly Bar. The weekly volume was slightly above average which is encouraging and the close was importantly above the 6/4 Moving Average High which again indicates that the momentum is building away from the Bearish Wave 4 pull back. I was not able to open this trade with CFD’s so I bought physical shares instead, which may change my trade management strategy, but it is way too early to say at this stage. Chart as Below for the entry into this Long position on XRS-NYSE.
25/01/15 – This potential Long Position on XRS-NYSE is setting up well on the Weekly Time Frame with 7/9 of my indicators in the green and the 8th turning green on entry. The Wave 4 profit take pull back has found support at both the Fibonacci 0.382 retracement level and the 50 Day Moving Average. The Fib 0.382 retracement level is a major support and resistance level from the Bullish Wave 3 movement. The 50 Day Moving Average was a prominent resistance level for over a year until May 2014 when the price broke through and started this Bullish Movement and cannot be ignored as a support level now for the wave 4 pull back. Last weeks bar shows a high volume move out of the Wave 4 Trend Channel and importantly the price closed for the week outside the Channel. The MACD Histogram profile is moving towards the zero line and should continue to lag behind but cross in the next couple of weeks which would be a confirmation once the trade has triggered. I have been conservative on my entry strategy and stop loss placement for this potential Long Position as the volatility in the markets is still a concern, especially with the Greek elections upon us. Stop Buy order @ 31.05 which is above the 6/4 Moving Average high Line for next weeks bar position and above the psychological $31.00 level. Stop Loss @25.97 which is conservatively below the Fibonacci 0.382 retracement level and the $26.00 level. Initial Take Profit Limit order @ 41.00 which gives a Risk to reward profile for this potential Long Position of over 1:1.6.
I have also included a Daily Time frame chart at the very bottom of the setup charts showing a very strong ABC Correction setting up a Strong Potential Bullish trade. I used Fibonacci levels for Internal retracements of the prior bullish trend, Apps of Wave A and Ex Rets of Wave B showing a strong Fibonacci convergence at expected levels for the Wave C extreme. I will look to explain this more in an article on the mytradingbuddy blog over the next week. Charts As Below for the setup of this potential Long Position on XRS-NYSE.