27/08/14 – My Trailing Stop was taken out on this Netflix Stock trade towards the end of today’s session, giving a 1.6% profit on my trading account balance. I am very happy with this result as added to my win on the same Netflix Stock, on a weekly chart, in July (Full trade Diary HERE) I have taken 2.8% profit from this NASDAQ stock that has made an all time high during my trade. Once a stock price has had a great Bullish run and made a new high it is in uncharted territory and traders will look to take profits, which seems to be the case with this Netflix stock at the moment. Keeping a tight trailing stop at this juncture is fully justifiable especially when locking in great profits. Chart as below.
26/08/14 – Although the price for this Netflix Stock reached an all time high yesterday, there was indecision in the market place and the Bears took over to close just below the open price. This Doji that was formed could indicate that this Netflix Stock trade has run out of juice for now and is potentially going to pull back on a profit taking period. This is only an indication and the indecision of yesterday could be over run with Bullish momentum today. I have decided on a much more aggressive trailing stop adjustment to lock in my minimum acceptable profit for any one given trade of 1.6% on my trading account balance. So the Trailing Stop is now at 474.36 which is below the low of yesterday and the previous Wave 3 high, which although weak could act as support. This move allows the trade space to work if the market has the desire to continue with the Bullish momentum and protects profits if in fact there is a profit taking period for this Netflix Stock, in which I do not want to be along for the ride back down.hart as Below.
23/08/14 – This Netflix Stock trade reached a new Wave 5 high on Friday and closed very positively for the day very near the high This was also an all time new high for this Netflix Stock price and is now in un-chartered waters with the next projected resistance level at a price of 500.00, which of course will be be a mental resistance price for traders. I have adjusted my Trailing Stop to 459.99, which locks in 1% profit on my trading account balance for this trade on the Netflix Stock. This Trailing Stop position is below the lows of the last 5 bars (days) and so is relatively conservative as there is a chance that institutional traders may take some profits next week and drag the price down on a small correction. If the momentum continues next week making new highs, then I would look to start being more aggressive in protecting more profits. I also have to remember that I have already taken 1.2% profit on a Netflix Stock trade in July (Full trade Diary HERE) so already with this locked in profit, this Netflix stock has served me well this summer. Chart as Below.
21/08/14 – The Netflix stock price has gained good ground over the last couple of weeks, resulting in the trade closing above the 50% to target line yesterday. In line with my trade management policy, I have adjusted the the Stop Loss to above the entry point to make this now a “Risk Free” trade. So the Stop Loss has become a Trailing Stop and I have placed it at 440.48 , which locks in 0.2% profit on my trading account balance. This position is below all the lows since the trade on this Netflix stock triggered two weeks ago, which is a conservative placement to begin with. I will look to be more aggressive next week with my Trailing Stop adjustment on this Netflix Stock trade. Chart as Below.
07/08/14 – The Netflix Stock price opened just below my entry point then proceeded to climb higher with great momentum and trigger me into the trade. I am looking for the price to close above the blue diagonal Gann Line, which it has crossed today, to give me further confidence that this Netflix Stock Swing trade is well and truly on! This gain today is despite the latter half of the US session being in negative territory for the all indicies. See Chart Below
07/08/14 – I have now opted for a more aggressive entry into this potential Netflix Stock trade after a positive week so far. Entry level for this trade now is @ 436.00 which, critically, is still above the highs of yesterday, the 30/07 and the 23/07. This choice still has this Netflix Stock having to get above this short term resistance level and also increase my potential reward as the Risk to Reward ration is now nearer 1:3. Next two days will be critical for this potential trade. See Chart Below
02/08/14 – This Netflix Stock potential Long trade is setting up well on this Daily Chart with 7/9 indicators in the green. As the Trend Channel figure is below 0.900 I always look to trigger a potential trade like this when the price crosses the 6/4 MA High Line. In this case the 6/4 MA High line is inside the Trend Channel for Monday’s bar position, so I am taking the most conservative entry point outside the Trend Channel @ 438.20. This level for the Buy order is also above the highs of the last 8 bars (days) and importantly above the Fib 0.25 line taken between Waves 2 and 3. Stop loss @ 412.00 with the initial Take Profit Limit Order @ 500.00. This is the second time into a Long trade with the Netflix Stock, the first was on a Weekly chart and the full trade diary can be viewed HERE . See below charts for this potential trade setup on the Netflix Stock.