29/01/14 – I was very nearly stopped out today, it was just the difference between the Bid and Ask price that saved me.  When the price came back down I took the profit at the 1.6% profit line.  19 days into the trade and I don’t want to mess with it anymore and am happy at the 1.6% profit of my trading account balance.  As Below


28/01/14 – For the first half of the session the sellers were dominant and the price dipped to the 1.8% profit line.  After the US Markets opened the buyers were buoyed by the positiveness of the US markets and became dominant moving the price up towards the opening price for today.  The price opened lower than the open forming a long legged Doji, which is a sign of indecision in the markets concerning the price of this stock today which has led me to move the Trailing Stop to the 1% profit line @ 1323 t lock in some of this hard fought profit.  this Stop Loss is also 1 point above the high of yesterday on my trading account chart price, which differs slightly to the technical analysis charts I use – gain indicative of the spread within these trades.  Tomorrow will be an important day in the continuation of the Bearish Trend or in fact a reversal.  As Above

27/01/14 – The price moved out and closed below the bottom line of the triangle and thus breaking the minor bullish pullback from the newly formed W5.  I am looking for this to continue tomorrow with an open and close below this line to give me more confidence that the SHORT trade is still on track.  To be safe I have moved the trailing Stop to 1331, the 0.75% profit point, to protect a little more of the profit.  The session closed with the price at approx 1.5% profit line for the trade.  As Below


25/01/14 – Profit currently sits at 1.3% and the price closed at its lowest point of the day on Friday.  More importantly for me the price opened and closed below the 0.5% profit line, therefore inline with my time trailing stop, I have moved the Stop Loss to 1338.5 (0.5% profit). The Triangle draw on the chart shows that next week should see a breakout of this minor bullish pull back from the W5 formed on the 15/01/14 and then continue down towards my target price.  Monday’s open will be interesting to say the least.  As Below


23/01/14 – I have moved the Stop Loss to the 0.25% profit line ‘ 1346.73 after the lessons learned from the failed FCX trade today, its now a RISK FREE trade.  This is conservative Trailing Stop giving space for price movement.  If the price opens, closes and stays below the 50% profit line tomorrow then I will end the week by moving the Trailing Stop to that line @ 1338.95.  This trade is 15 bars in now.  As Below


15/01/14 – Large price movement today saw the price just dip below the low of Wave 3 and thus forming a Wave 5, which at that moment was short of the take profit limit order.  There was an opportunity to take 1.8% profit at that time and got out of the trade, however the time frame on the target zone suggests beginning of February (although those calculations change after each session) .  With this in mind and being in a MAR14 contract (no finance charges daily) I decided to let it play out further.  The substantial pull back from the low price for the second half of the session indicated the market isn’t quite ready to accept those low prices as buying occurred right up until the session closed. As Below


02/01/14 – Sell Order triggered and into the trade. As Below


31/12/13 – The false bar stochastic suggests this stock is in a long term BEARISH trend and the pull back is indeed a W4.  There are 7/9 indicators in the green, but I am still cautious and therefore looking at a conservative entry way out of the Trend Channel and below the low of the 24/12/13. I am putting a SELL order in @ 1352 on a MAR14 Spread bet Contract with a Stop Loss at 1385 and a take profit limit order @ 1280.  No trading tomorrow as it is New Years Day, but I will keep a close eye on this at the open on Thursday and adjust as necessary. As Below


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