03/03/14 – The price was in positive territory during the morning session, but when the US markets opened it quickly lost ground. With the price drop and the Trailing Stops being taken out on 3 of my trades already(CAR, EXPE, FNF), I decided to cut and run with this trade and take 1.65% profit on my trading account balance which is still a good trade. As Below (Conversely I have left its sister trade, the COB-LSE trade on.)
28/02/14 – A large price movement up this week (1 bar) has seen the price close at the 1.7% profit line and a new W5 high has been formed. I have adjusted the Trailing Stop to just below the low of last week @ 334 which locks in 0.45% profit on my trading account balance. This is a conservative Trailing Stop considering the massive price movement this week, but I have to remember this a a longer term trade expected to hit target in June this year and so will likely pull back before gaining more ground. I have drawn a trend line through major turning point pivots on this W5 as a guide to limits of potential pull backs and future Trailing Stop positions. Lets see what the next few bars (weeks) bring for this stock. As Below
22/02/14 -This week (1 bar) has seen positive movement and has had a Higher Low and Higher High compared to last weeks bar. This should indicate the price is on it’s way back up after this pull back during the trade. I have adjusted the Stop Loss just below the low of the week ending 14/02/14 and intend to manage the trade with a tight Trailing Stop, two weeks behind the close of each week (bar). As Below
15/02/14 – The last 3 bars (weeks) have seen the price for this trade pull back from profit making position. I have been tracking this using an alternative time-frame chart which can be seen in the picture below. To the left is the Weekly chart (which the trade is born from) and to the right is the Daily chart which I have been using to track this pull back over the last 3 weeks. On both charts I have highlighted the last 3 weeks with a yellow Ellipse. As you can see from the daily chart the last 3 weeks have been a W4 pull back on the Daily Chart, which then formed a W4 extreme and took out the TJ’s Ellipse on the 12/02/14 and has then moved back up to break the Trend Channel. This gives me confidence that my trade originally taken on a Weekly chart will now move back into a strong profit making trade – next week will be extremely important and I need to see some strong positive movement upwards. I sometimes use alternate time frames to help me manage my trades. As below (remember you can click on the link below to enlarge the image, just press back on your browser when your done, to return to the post)
18/12/13 – BUY order triggered Now into the trade , CFD trade and Spread Bet trade. As Below
02/12/13 – Price has moved above the middle line of the Trend Channel and so I have put an order to buy @320.10, however the target zone time line is t around the June 2014 mark to make the new Wave 5. I have therefore put the Order on a Spread Bet June 2014 contract which has a larger Spread (a difference of 4.89 from the ordinary daily price), so order was put in @325.00. All the 7/9 indicators are still in the green. As Below
18/11/13 – 7/9 indicators are good and the price/time seems to be moving to the TJ’s ellipse (approx mid December). If the price moves above the mid-line of the Trend Channel then I might put an order to buy at 324.80 (this week).