11/02/15 – My Trailing Stop was taken out in yesterday’s for my trade on this Nasdaq Banking Sector Stock, giving me a 0.75% profit on my trading account balance. I probably stayed in this trade for too long and had a couple of chance to take much more profit on the main trade, but backlash to the good jobs data hurt this trade too much. I still think there will be another push to the upside and will look for Intraday or Scalping opportunities over the coming weeks. Overall this has been a good trading activity period on this Nasdaq Banking Sector Stock giving a me combined NET profit of 3.25% on my trading account balance. Chart as Below showing the close.
15/02/15 – The Pull back last week for this Nasdaq Banking Sector Stock ISBC found good support and took out a TJ’s Ellipse taken from the previous Bullish movement from Pivot M to the Wave 5 high. Confirmation of the return to the overall Bullish Trend during Thursday and Friday give me confidence to adjust my Trailing Stop to just below the ll back’s support level Trailing Stop now @ 11.33 which allows plenty of room for the the trade to work. There is no trading in the US markets on Monday and so a long weekend where lots can happen in the world will potentially affect the open on Tuesday for the markets. My Trailing Stop now locks in 0.75% on my trading account balance and depending on the price action at the beginning of next weeks session, I may decide to manually close and take more profit if the price struggles at my target zone, which is also a resistance level. Chart as Below for this adjustment.
07/02/15 – My trade on this NASDAQ Banking Stock ISBC did just hit the target zone during Friday’s session but then came back down to close at the open price. The price didn’t quite reach my Take profit Limit Order and I decided not to manually stop the trade as there maybe another attempt at this resistance level next week. However, I have placed a very conservative trailing Stop at 11.23 which locks in 0.5% profit on my trading account balance and allows this trade to pull back before another move higher if needed. I have to learn from my recent trade on JBLU in these current market conditions where I was too aggressive with my trailing stop and that price took me giving profit but then went up to make new highs. In normal conditions I would be placing my Trailing Stop at the 1% profit line as it is below the lows of the last three days but again for the reasons just mentioned I will be more conservative. I have already been paid out on Dividends on this Stock during last week which was equivalent to 0.1% of my trading account balance so an extra bonus for trading CFD’s. Chart as below for this trailing Stop placement on the NASDAQ Banking Stock trade on ISBC.
03/02/15 – My first scalp trade in this NASDAQ Banking Stock ISBC in yesterday’s session which started very positively for this stocks price. At 12;00 after a small pull back from the strong Bullish trend of the day, which is quite normal, a Bullish Harami Cross was formed as the Stochastic was crossing at the over sold zone. I placed a conservative entry @11.16, above the highs of the previous two red candles before the Doji Star candle. The Stop Loss was placed I point below the low of the Doji Star @ 11.11. No Take profit Limit order was placed as I wanted to manage the trade with a Trailing Stop as this Bullish move was surely in for the day. At 12:25 my Buy order was triggered and so into the trade. It wasn’t until the closing stages of the session that the price for this NASDAQ Banking Stock broke out. At 15:30 and after a Red Doji Star I placed my first trailing stop @ 11.21 to protect profit as this could have been an indication of exhaustion. As it turns out it was just a continuation pattern as the price began to climb quickly again. At 15:45 the price made a new high for the day and was showing signs of exhaustion just before the end of the session so I adjusted my Trailing Stop to 11.27, locking in just over 2% profit on my trading account balance. I had to close out the trade @ 11.28 in the dying minutes as the price wasn’t going to take out my Trailing Stop, giving a 2.5% profit on my trading account balance. With DHR I was juggling two scalps into the end of the session which was quite a busy end to the day. This was a great first scalp on this stock and a good move for my main trade on the Daily time frame also. Chart as Below for the Scalp on this NASDAQ Banking Stock.
23/01/15 – A Very Strong Bullish move for this NASDAQ Banking Stock in yesterday’s session triggered my Stop Buy order and most importantly closed near the Daily high and above the entry level. It is also noteworthy to mention that there has been a steady increase in volume each day this week nd with the move away from the support level yesterday, there are good signs that the Wave 4 bearish trend is broken and momentum is building for a Wave 5 push. I have also included the MACD sub chart below the Volume to further show this move is strengthening with the Histogram just about to cross the zero line from -ve to +ve. Charts as below for the Entry into this Long Trade on the NASDAQ Banking Stock, ISBC.
18/01/15 – The Wave 4 pull back for this NASDAQ Banking Stock has found support at the Fibonacci 0.5 retracement level taken between wave 2 and wave 3 extremes. The TJ’s Ellipse will be taken out in Monday’s session which is also an indication that this current support level is strong and the Elliott wave movement is setting up to break the pull back trend and return to the overall Bullish trend for this NASDAQ banking Stock ISBC. The MACD Histogram profile looks good to cross the zero line from -ve to +ve also. There are 7/9 of my with trend trade setup indicators in the green and with the 6/4 MA having to be crossed before entry there will be 8/9 on trigger. Due to the volatility of the markets I have decided on a very conservative entry for this trade with a Stop Buy Order @ 11.04 which is above the high of the Pivot B during the Wave 4 Pull back, above the 50 Day MA, out of the Trend Channel, above the 6/4 MA High line and above the Fibonacci 0.25 retracement level. The Stop Loss is below the Fibonacci 0.382 retracement level and is set @ 10.66, with the initial Take Profit Level @ 11.80, which gives a Risk to Reward profile over my minimum 1:1.6. Charts as Below for the setup of this potential with trend trade on the NASDAQ Banking Stock ISBC.