TRLA-NYSE Elliott 5th Wave

24/07/14 – On speculation that Zillow Inc is looking to purchase Trulia (TRLA), the share price has rocketed today.  It has taken out my Take Profit Limit Order at 53.00 to give me a 3.6 Profit on my trading account balance in less than 24 Hours.  This is the fastest Elliott 5th  Wave movement I have seen on a Daily Chart!  It is nce when something like this happened but I was only in the trade due to it meeting my strategy requirements for an Elliott 5th wave movement.  Of course I will take the profit gladly! As Below

elliott 5th wave

24/07/14 – My Buy order for this trade tip-toe triggered yesterday and so I am in this trade.  The price crossed the 6/4 MA High line on its way to trigger and therefore I have 9/9 indicators in the green.  I am concerned on the low volume of yesterday and will need to see this pick up, if the momentum is to continue and have a go at this Elliott 5th wave.  As Below

elliott 5th wave

19/07/14 – With 8/9 of my indicators in the green for this potential Elliott 5th wave trade, the setup is looking great.  The Wave 4 pull back seems to have found support at the Fib 0.50 line taken between wave 2 and wave 3, with the price closing strongly for the day on Friday.  For this trade to trigger and the Elliott 5th wave to start, the price must break through the Fib 0.382 line, as on the chart below, which is also outside of the Trend Channel for Monday’s bar position.  With this conservative entry the Buy Order is therefor at 41.45 with the Stop Loss @ 38.22 and the initial Take Profit Limit Order @ 53.00 giving a potential Risk to Reward Ratio of over 1:3.  As Below

elliott 5th wave TRLA#1 TRLA#2 OSC'

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