31/12/14 – A new Wave 5 High was formed near the beginning of today’s session for this Real Estate Investment Trust Sector Stock trade, but was short lived. The price then had a major tumble with higher volume than yesterday and took out my Trailing Stop to give a 1% profit on my trading account balance. I may have been to aggressive with my Trailing Stop adjustment but am happy to have finished 2014 off with a positive result as this is the last trade to close this year. For the price to have such a large movement against the trend and break the previous day’s low and of course the momentum is always a concern so regardless of where the price goes in the next week or so for this stock I am confident that my trade management strategy is strong. Chart as below.
31/12/14 – Another strong session yesterday for this Real Estate Investment Trust Sector Stock with the price making a new Wave 5 along with higher volume from the previous day. As the price has now made a new Wave 5 high and was very close to my initial target price I want to be more aggressive with my Trailing Stop placement and adjust the Take Profit price. Trailing Stop now adjusted to 23.59 which locks in 1% profit on my trading account balance for this trade. I have also adjusted the Take Profit Limit Order to 25.06 which would be the 3% profit line which is above the initial target zone but I suspect that will be broken through due to the large momentum this Wave 5 seems to have, especially as I have only been in the trade for a short time. Chart as Below.
30/12/14 – A strong session yesterday for this Real Estate Investment Trust sector Stock with strong positive price movement and closing near the day’s high. The MACD has now also crossed the zero line from -ve to +ve indicting the Bullish momentum of this wave 5 has gathered strength. As the price has closed above the 50% to target line I have placed a Trailing Stop @ 23.04 which locks in 0.25% profit for this trade on my trading account balance and importantly now makes this a Risk Free Trade. I will probably let this week play out before I adjust the Trailing Stop, unless there is a massive price movement today. Chart as Below.
23/12/14 – This Real Estate Investment Trust Sector Stock had a large price movement in yesterday’s session to trigger my Buy Order and enter me into the trade. The price closed near the day’s high but the volume was reasonably low, which is not uncommon at this time of year so unsure whether the momentum will continue in today’s session. For the price to close above the 6/4 MA High line (blue MA line) before Christmas would be a good sign for this trade and so this is what I am looking for out of today’s session and the Christmas Eve session. Chart as Below.
20/12/14 – The potential long trade on this Real Estate Investment Trust Sector Stock is setting well with 8/9 of my indicators in the green. The Wave 4 profit take pull back found strong support at the Fibonacci 0.382 retracement level taken between Wave 2 and Wave 3, with further support from the TJ’s Ellipse. Friday’s session was positive with high volume and tested the Trend Channel but then pulled back to close near the open price indicating indecision in the market for taking the price of this Real Estate Investment Trust Sector stock higher. It seems the 0.25 Fib retracement level is acting as resistance at this time, but I suspect it is a weak resistance level and with positive market conditions the price could break through Friday’s high. I have decidied for quite an aggressive entry strategy for this potential trade with the Stop Buy Order @22.85, which is above the Fib 0.25 line and the high of Friday’s session. I have placed the Stop Loss @ 22.11 which is just below the Wave 4 extreme and the 0.382 Fib retracement Level. The initial Take Profit Limit Order is @ 24.50 which gives a Risk to Reward profile of over 1:2. Chart as Below for the setup of this potential Long Trade on this Real Estate Investment Trust Sector Stock, PEI-NASDAQ.