14/08/14 – Fantastic momentum in today’s session for this swing trade that has seen the price enter my target zone. I have closed this swing trade on INTU and taken 2.2% profit on my trading account balance. I have also closed out two more profitable trades on the FTSE today, namely INPP-LSE and TW.-LSE which combined with this trade works towards my monthly and quarterly targets well. This swing trade has taken its merry old time as swing trades coming off a wave 4 pull back usually take 20 bars (days in this case) to reach a Wave 5 high, whereas this swing trade took 35 bars(days) to complete the movment. My patience and conservative trade management has been rewarded with great profits. I have also held onto my physical shares in the company for longer term growth and dividend income in my pension fund. Chart as Below.
12/08/14 – I have adjusted my Trailing Stop on this Swing trade to 316.48, which now locks in 0.45% profit on my trading account balance. This is still a conservative trade management strategy with the Trailing Stop being placed below the lows of the last 15 bars (days). I am looking for the price on this Swing Trade to open and close above the 322.70 price for the rest of the week so that I can be confident in a more aggressive trade management strategy. Chart as below.
01/08/14 – After this swing trade formed a new Wave 5 high yesterday, the price has pulled back today and closed around the 1% profit level. It has closed above the short term trend line support for the week which I suspect will hold next week. I have placed a Trailing Time Stop for this swing trade @ 312.00, just above Beak even, as the trade has been on over 20 bars now and I will look to be more aggressive with adjusting this next week to lock in profits. This is now a “Risk Free” Swing Trade. As Below
27/06/14 – This swing trade has triggered in the early part of today’s session and crossed the 6/4 MA High line, giving 9/9 indicators in the green. I would like to see the price close positively above the entry point today and then the momentum should continue next week. The current time for the target zone to be hit is around the middle of July. As Below
26/06/14 – With 8/9 indicators in the green, this potential swing trade is setting up well. The price has been out of the Trend Channel for a couple of bars (days) but has yet to gather momentum to reach for a Wave 5. The Wave 4 pull back was against a very strong Bullish Wave 3 and I am sure the market will return this stock on its bullish trend. I have opted for a conservative entry just above the 0.382 Fib Retracement line to ensure the movement is well on its way. This still gives me a Risk to Reward Ratio over 1:2.5 which is acceptable. BUY Order @ 310.50 with the Stop Loss @ 299.70 and the initial Take Profit Limit Order @ 337.50. This is a CFD trade but I have also purchased 300 shares in this stock for a longer term investment as this Swing Trade should return the stock price on a strong bullish trend. AS Below