03/04/15 – RKT NYSE – My Trailing Stop on my main trade on the Daily Time frame was taken out on the 1st April, a casualty of a strong Bearish session, giving a 1% loss on my trading account balance. I had some great scalps on this stock so overall my NET profit for all my trading activities on RKT NYSE during this time was 5.6% . Chart as Below.
25/03/15 – RKT NYSE – Scalp Trade #3 – This third scalp on the 24th March was a classic double bottom setup with a Bullish Harami Double Candlestick pattern forming at 10:50am Entry @ 65.29, one point above the high of the large Red Candle forming first half of Bullish Harami. Stop Loss 1 point below the same Red Candle @ 65.14. Trade entered at 10.55 and a strong Bullish move continued with trailing Stop Placed @ 65.45 at 11:15 locking in 1% profit on my trading account balance. At 11:15 I adjusted Trailing Stop to 65.54, locking in more profit and then continued to be aggressive with Trailing Stop adjustment to 65.60 at 11;20. Five minutes later the price turned and my Traing Stop was taken out giving a 2% profit on my trading account balance. Chart as below for this third trade on RKT NYSE.
19/3/15 -RKT NYSE – Scalp Trade #2 – This was the second scalp trade of yesterday’s and most probably one of the fastest scalps I have made in a long time. After the price had pulled back from my previous Bullish scalp, the stochastic entered the over sold zone again and a Bullish Harami Cross formed at 13:45 as the stochastic was crossing and the MACD Histogram was tending toward the zero line to cross from +ve to -ve. Entry level was above the high of the first Red candle in the Double Candle Stick Bullish Harami Cross pattern. Stop Buy Order placed @ 66.50 with the Stop Loss @ 66.30. The trade triggered at 13:55 and then made a massive move on the next candle at 14:00 and I manually closed out the trade and took just over 3% profit on my trading account balance. This was a decision made in the heat of trading and wasn’t really panic but realization that with the previous scalp trade I had a good day and it was time to take the profits and close for the day. Chart as below for this explosive scalp trade on RKT NYSE.
19/03/15 -RKT NYSE – Scalp Trade #1 – This was the first of two Scalp trades on this stock during yesterday’s session. Yesterday’s session opened with a quick Bearish movement for this stock and then it recovered to the previous days high before a natural pull back occurred. At 11.55 am the pull back was exhausted as a Bullish Harami formed at the same time as the Stochastic was crossing in the over sold zone. I decided on a relatively conservative entry @ 66.46 above the highs of the two previous candles of the green candle forming the 2nd part of the Bullish Harami. Stop Loss @ 66.33. The trade was entered at midday (EST) with a large movement that continued before a small pull back. At 12:50 pm I placed a Trailing Stop @ 66.69 to protect profits as a Red Doji Star had formed indicating exhaustion in this current Bullish move. The next candle took me out of the trade giving a 1.6% profit on my trading account balance, which hedges against a potential loss in the main trade. Chart as below
17/03/15 – RKT NYSE – My trade order for this Long position “Tip Toe Triggered” in yesterday’s session then closed near the open price to form a Doji. Not all trades are explosive entries and although the indecision in the markets about this stock’s price is a little worrying, it is most likely a continuation pattern after two strong Bullish days. The first target for this trade is to close above the entry price and continue making higher highs and higher lows. Chart as Below.
16/03/15 – RKT NYSE – With 6/9 of my indicators in the green, this potential trade setup is looking reasonably strong and with the 6/4 MA High having to be crossed before entry it will make 7/9. The Wave 4 pull back has found support at the Fibonacci 0.5 Retracement level taken between the Wave 2 and Wave 3 extremes, whilst also forming a positive Doji. Although the Elliott Oscillator just broke the 140% line it did start to pull back on Friday’e session, so as long as that profile continues to tend back to the zero line today, then it will be ok. The Trend Channel is well and truly broken and now my conservative entry strategy kicks in to see confirmation above the 6/4 Moving Average High line and above the high of Friday. Stop Buy Order @ 66.51 with the Stop Loss @ 62.98 and the initial Take profit Limit Order @75.00, giving a Risk to Reward Profile over 1:2. As the Stop Buy Order is so close to Friday’s closing price I must keep an eye on the pre market action for this RKT NYSE Stock to ensure there isn’t a large gap up that would ruin my Risk to Reward. Charts as Below for the Setup of this potential Long Trade on RKT NYSE.