05/03/15 – I was stopped out of this trade on the NYSE Stock trade on DHR at the beginning of yesterday’s session as the price gapped down on open below my Trailing Stop. This resulted in an immediate close at the open price to take 0.25% profit on my trading account balance. This is an unusual occurrence when the momentum is with an Elliott 5th Wave move so I will just chalk it up to experience. On the positive side my total NET profit for my trading activities on this NYSE Stock trade is 9.65% on my trading account balance in 25 trading days, so I am very happy with the overall results. Chart as Below.
27/02/15 – A new Wave 5 High was formed for this NYSE Stock trade in yesterday’s session and so I have decided to be more aggressive with my trade management. I have adjusted my Trailing Stop to 86.35 which is below the lows of the last 8 bars (days) which seems to be acting as a support level. This now locks in 0.45% profit on my trading account balance and allows the trade room to work. This NYSE Stock trade has now been on for 22 days and as part of my time stop strategy for this particular trade will now see me using and aggressive trailing stop adjustment strategy next week. Chart as Below showing the Trailing Stop adjustment.
27/02/15 – My 5th Scalp for this NYSE Stock trade in yesterday’s session after the bearish pull back for the first 30 minutes. At 10:00 am the Bearish move found exhaustion with the formation of a Doji candle and the Stochastic crossing over at the over sold zone. The following green candle was engulfing of the Doji candle which was an indication of a swing back to the main Bullish trend. I placed a Stop Buy order @ 87.18 which was just above the high of the large red candle prior to the Doji candle and the Stop Loss @ 87.02. The trade triggered pretty quickly and made a strong positive move until 10:50 am when it took a breather before moving higher again. At this stage I placed a Trailing Stop @ 87.51 locking in 2% profit on my trading account balance and then managed the trade with aggressive Trailing Stop until I was taken out of the trade at 11:40 am, giving a 4% profit on my trading account balance. Chart as below for this Scalp NYSE Stock trade on DHR.
22/02/15 – Although this NYSE Stock trade has not quite reached the 50% to target line, it did form a new Wave 5 High during Friday’s session and so I have placed a trailing Stop @ 85.10 to make this now a “Risk Free” trade. The Trailing Stop is below the lows of the last 7 bars (days) and I will look to be more aggressive as next week progresses, depending on the price action for this trade. Chart as Below showing the placement of the first trailing stop for this NYSE Stock trade on DHR.
10/02/15 – My Fourth Scalp during my trading activities on the NYSE Stock trade for DHR and this time successful. After the price gapped up on open for this stock there was a natural pull back to close the gap during the first hour of the session. At 10:50 am a Piercing Line Double Candlestick reversal pattern was formed along with the Stochastic crossing over in the Over Sold Zone and the MACD histogram profile tending towards the zero line. I placed a Stop Buy order i point above the high of the large red candle (first of Piercing Line double candlestick pattern) @ 84.58. Stop Loss @ 84.32, just 1 point below the low of the same large red candle. My minimum Risk to Reward of 1:1.6 for this trade was at the previous high of the day and so I decided to place my Take Profit Limit Order @ 84.99. At 11:15 am my Stop Buy order was triggered following a stable bullish movement away from the low of the day. At 12:05 pm I placed my Trailing Stop @ 84.71 locking in 0.5% profit on my trading account balance as a Bullish Doji continuation pattern had formed around the 1% profit line. At 12:15 my Take profit Limit Order was taken out giving me a 1.6% profit on my trading account balance which counters the loss on my last scalp trade for this stock. Chart as Below
04/02/15 – My Third Scalp during this main NYSE Stock Trade on DHR. The price gapped up on open then made a pull back reasonably quickly and after having good scalp trades this week week I wanted to get in again. A Bullish Engulfing pattern was formed at 11:05 am at the same time the Stochastic was crossing over in the over sold zone against a False bar stochastic and although my minimum Risk to Reward of 1:1.6 was above the Daily High so far I setup a Buy order for this trade. Stop Buy order @ 84.64 with the stop loss at 84.30. The trade was entered at 11:15 am but then didn’t really get going until at 11:55 my stop loss was taken out giving a 1% loss on my trading account balance. I should have kept disciplined and not entered this trade as my minimum Risk to Reward was not within the day’s high, which has resulted in my first scalping loss of the year. My run of wins had to come to and end but this was a silly mistake that I will hopefully not make again. I am still in overall profit for my trading activity on this NYSE Stock trade so I just need to allow the momentum to build with the main trade before entering another intraday trade. Chart as Below.
03/02/15 – My Second Scalp trade during a big move day for the main NYSE Stock trade. As with my other Scalp of yesterday’s session on ISBC this stock had a good push higher from a support level in the first half of the session. There was a more protected pull back from the highs from around 11:40 am to 14:00 pm, at which time a strong setup presented itself on this 5 minute chart. At 14:00 a Bullish engulfing pattern along with the stochastic crossing over in the over sold zone and a natural wave 5 low being formed for the pull back during the afternoon. I decided on a more conservative entry to ensure the bottom had been found in the day’s session and a continuation of the overall Bullish Trend was back on. Stop Buy Order placed @ 82.60 with the Stop Loss 1 point below the Wave 5 low @ 82.28. Again no Take Profit Limit Order placed as I wanted to manage the trade with a Trailing Stop. At 14:05 I was entered into the trade with a strong Bullish move. At 15:30 the price had broken the 1.6% profit line for the second time and so I placed my first Trailing Stop @ 82.92, locking in 1% profit on my trading account balance. At 15:40 and after a massive move up. I adjusted my trailing Stop to 83.24, locking in 2% profit. At 15:45 and after a Doji star formed indicating exhaustion before the end of the session I placed my Trailing Stop tight to the low of the candle @ 83.56, locking in 3% profit. My Trailing Stop was not taken out by the next candle and then just before the close, as with my ISBC trade, I manually closed out the trade @ 83.62, taking 3.2% profit on my trading account balance. Chart as Below for my second scalp for this NYSE Stock trade.
30/01/15 – At the start of yesterday’s session the price for this NYSE Stock trade was bearish with signs of exhaustion coming very quickly at 09:45 when a Bullish Harami Star, two stick candle pattern was formed. The preceding ABC correction indicated a potential Bullish move was possible. The following candle was almost a solid green candle and confirmed a potential breakout as it formed the 3rd candle of a “Morning Star” 3 Candle Stock break out pattern. The Stochastic had a false bar so this was not a factor but a strong and rare 3 Candle Stock breakout pattern could not be ignored. I decided to place a Stop Buy order just above the wick of the Red Candle that formed the first part of this 3 stick pattern @ 82.71. Stop Loss placed @ 82.20, just below the wick of the Green Doji Star. At 10:05 my Buy order was triggered and so into my first Scalp during my main NYSE Stock trade for DHR-NYSE. The price then became range bound for quite some time so I just let it do its thing. At 13:10 the price found support for the second time at the entry price for my trade and at this time I drew a Trend Line Support on the chart to give me guidance on getting out quickly if it was broken. At 13:55 the price had opened and closed above the 1% profit line so I adjusted my trailing stop to 83.21, locking in this profit. I also decided at this time to place a take profit Limit order @ 83.52 as the trade had been on far too long and if the price reached this price I would be happy with the profit. At 14:20 my Limit order was taken out, closing the trade and taking 1.6% profit on my trading account balance This now makes my main NYSE Stock Trade on the Daily time frame a Risk free trade. Chart as Below for this slowly but surely Scalp Trade.
28/01/15 – My Stop Buy Order for this NYSE Long Trade was triggered in yesterdays session with high volume and against a very negative US market. Although the price closed below my entry point it did close above the 6/4 Moving Average high line and the 50 Day Moving Average line which is encouraging. Simple target for this trade for the remainder of the week is to close above the entry price and not make any lower lows. The Doji eventually formed with yesterday’s bar does signal indecision but I cant put a great deal of weight behind that as it was an extremely negative session in the US and this stock bucked the main trend. Chart as Blow for the entry of this Long NYSE Stock Trade.
25/01/15 – This potential Long NYSE Stock Trade on DHR is setting up well with 7/9 of my indicators currently in the green, with 8/9 in the green if the trade triggers across the 6/4 MA High line. Although the Wave 4 extreme did go below the Fib 0.382 retracement level to take out the TJ’s Ellipse, it closed the same Daily session above it. This Fib 0.382 retracement level was also a strong support level during the later stages of the Wave 3 Bullish move and must not be ignored. The Oscillator pull back is within parameters and the profile is now forming positively towards the zero line, as is the MACD Histogram profile, which is a good sign the profit take take wave 4 bearish move is over. Further conformation of the completion of the bearish Wave 4 is the price crossing the 6/4 MA High line and so I have chosen to enter the trade above this level. Stop Buy Order @ 84.75 which is out of the Trend Channel, above the 6/4 MA High line for Monday’s bar position and above the highs of Thursday and Friday’s session last week. The Stop Loss is reasonably tight below the low of the Wave 4 extreme and is set @ 81.22, with the initial Take Profit Limit Order @ 91.25 which gives a Risk to Reward Profile over my minimum 1:1.6 Charts as Below for the setup of this potential Long NYSE Stock trade on DHR.