26/06/15 – UGP NYSE – My Stop Loss was taken out during yesterday’s session giving a 1% loss on my trading account balance. The trade failed to break out of the channel since the Wave 4 low but the entry was good as this same strategy was successful in my recent UA-NASDAQ trade. Technically this trade was stronger as there was a triple bottom during the range bound period after the Wave 4 low that suggested a strong support level, but I believe the emotional reaction to news out of Greece meant this less mature trade suffered and ultimately lost. Chart as Below.
19/06/15 – UGP NYSE – My Stop Buy order was triggered t the open of yesterdays session but due to s slight gap up and slippage from my broker the trade was opened at 22.72 so I have adjusted my chart to reflect this. This was a Tip Toe trigger after which the price retraced to close the gap and then closed the day to form a Doji. The MACD signal lines have crossed and the Histogram is in +ve territory so I am not too worried about the poor open for this trade. A close above the entry price and hence the M pivot during the range bound phase is the next target for today or Monday. Chart s Below.
16/06/15 – UGP NYSE – The setup for this potential Long Position is very similar to EDU-NYSE and UA-NASDAQ , in that the Wave 4 has found strong support and then the price has become range bound. Just like these other two trades, which are now live, I want to enter out of the range bound channel on the break out. there are 8/9 of my trade setup indicators in the green and the 9th will go green before entry. The MACD is tending to the zero line and the signals lines are due to cross , which will be a confirmation of a Bullish move once occurred. Stop Buy Order @ 22.66 with the Stop Loss @ 21.43 and the Initial Take Profit Limit Order @ 26.40, giving a Risk to Reward profile of 1:3. If this support level holds during the Bearish markets then the order remains good. Charts as Below for the setup of this potential Long Position on UGP NYSE.