OHI-NYSE Stochastic

24/07/14 – I have decided to manually close this trade today and take 4% profit on my trading account balance, which together with today’s close of my $NFLX trade gives a daily profit of 5.2% on my trading account balance.  The Stochastic is still in the over bought zone but has crossed over ready to go to the downside.  More importantly the spike high today to form a new Wave 5 high was on low volume, which could indicate this current Elliott 5th wave movement is running out of steam.  I am quite happy to take this great profit even though the trade hasn’t reached my target zone.  As Below


19/07/14 – Another great week for this trade.  With the stochastic remaining in the over bought zone, the price has reached and formed a new Wave 5 high on Friday for this current Bullish movement. I am still being conservative with the Trailing Stop and have adjusted it to 37.14, which is below the lows of the last 6 bars (days).  This locks in 1.8% profit on my trading account balance, whilst giving the trade a great deal of room to manouvre.  As below


12/07/14 – This trade has now been on for 16 bars (days) and currently stands at over 2% profit on my trading account balance. In line with my trade management strategy I have to consider a time stop as it hasn’t reached 50% to the target zone.  The stochastic has been in the overbought zone for some time now and will probably mean a False Bar stochastic forming next week to give confidence this stock has returned to its overall Bullish Trend. There is great potential in this trade with a potential 5% profit on my trading account balance.  I have decided to give the trade more time, but moved the stop loss to 35.96 which is above the entry point and makes this a “Risk Free Trade”.  This point is below the low of the Main Pivot M and gives the trade chance to work its magic.  Bearing in mind the Markets were pretty much negative last week, this stocks price continued to make good ground which also gives me confidence in this trade.  As below


20/06/14 – A Strong positive move yesterday triggered the Stop BUY Order and so I am into this trade.  The price closed very strong at its Daily High yesterday, which is a good sign for Friday’s session where I expect this momentum to continue.  The stochastic is still not out of the Over Sold zone but I expect his to happen over the next few bars with continued momentum. As Below


18/06/14 – The Stochastic has yet to cross in the Over Sold Zone, but is very close and may do so if today’s session is strong and positive.  I want to make sure of the Stochastic crossing so I have opted for a conservative entry way out of the Trend Channel for Today’s bar position and above the highs of the last two bars (days), which will give 7/9indicators in the green upon trigger.  BUY Order placed @ 35.71 with the Stop Loss @ 34.95 whilst the Take Profit Limit Order is @ 39.60 giving a fantastic Risk to reward Ratio of 1:5 for this potential trade.  AS Below



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