26/03/15 – My Stop Loss was taken out for this trade on the Nasdaq Pharma Company IDRA, giving a 1% loss on my trading account balance. Looking back a sensible strategy would have been to time stop this trade around the 19 March after 20 bars and the price was near entry. I must be more disciplined with my time stop strategy moving into my next trading financial year so that I can cut down the risk of these trades that start well but don’t have the juice to complete. Chart as Below.
22/02/15 – My Stop Buy Order for this Nasdaq Pharma Company Stock triggered on during Friday’s session and closed above the entry level which is encouraging. The Elliott Oscillator profile is still tending towards zero and once crossed will show the Bullish momentum has returned tot he Main trend. Chart as Below.
12/02/15 – The setup for a potential Long Trade for this Nasdaq Pharma Company Idera Pharmaceuticals Inc is looking very strong with 7/9 of my “With Trend” Indicators in the Green, with the 8/9 confirmed if trade triggered. The Wave 4 pull back has found support at the Fibonacci 0.5 Retracement level along with the TJ’s Ellipse being taken out and holding. An important Elliot Wave Theory Observation is also present in that there is a Complex Wave 4 opposed to a Simple Wave 2, which gives strength to the probability that the price for this Nasdaq Paharma Stock should attempt for a New Wave 5 high. The 50 Day Moving Average may prove to be a resistance level and as the trend Channel is below 90% I am going to consider a conservative entry strategy. Stop Buy Order @ 4.61 which is way out of the Trend Channel, above the 50 Day Moving average and above my 6/4 MA High line for today’s bar position. Stop Loss @ 3.74 , 2 points below the extreme of the wave 4 low. The initial Take Profit Limit Order is @ 6.20, which gives a Risk to reward profile over my minimum required 1:1.6. It is also worth noting that both the Elliott Oscillator and the MACD Histogram profiles are tending towards the zero line, again giving strength to this potential high probability Long Trade on the Nasdaq Pharma Stock IDRA. CFDs are not available with my broker for this Nasdaq Pharma Stock so I am setting up the order to Buy Physical stocks and therefore this may turn into a longer term trade, depending on the performance of the Wave 5. Charts as Below for the Setup.