10/05/14 – The price has dropped below the original ave 1 high and therefore has broken a Elliot Wave Rule .  This now has the potential of being in a Bearish trend or a complex correction and therefore is no longer viable for my original trade idea, so I have cancelled the BUY order. As Below


03/05/14 – A slightly new W4 low was formed last week, but the price rallied to close the week positively, which needs to continue into next weeks bar/price action for this trade to have a chance at this time.  The Entry Point for the BUY order remains the same at 7.15 and is a conservative entry above the high of two week ago, just to give me confidence that the W5 Bullish trend has started.  I have adjusted the Stop Loss to compensate for last weeks new low and is now @ 6.21, whilst the Take Profit Limit Order remains the same @9.50, As Below


26/04/14 – The Trend Channel is taken from the Main Pivot B as this is a complex W4 Pull Back and meets the Elliot Observations of a simple W2 against a complex W4.  Last week the price broke out of the Trend Channel, but then pulled right back down to close just below the open price.  This formed a Doji with long upper shadow type candlestick, which shows indecision in the market place where the Buyers had the upper hand at the beginning of the week but the  Sellers became the main driving force towards the end.  Due to this indecision, I have placed a conservative BUY order above the high of last weeks bar as I need to be sure the price wants to go higher.  At the moment there are 8/9 indicators in the green for this potential trade so all that is needed is a couple of strong bullish weeks for this trade to trigger.  BUY order on a Sept 14 contract ‘ 7.15 with a Stop Loss @ 6.25 and a Take Profit Limit Order @ 9.50.  As Below

PKD#3 PKD#1 PKD#2 osc'

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