05/05/15 – WBA Nasdaq – This stock has had a very orderly Wave Wave profit retracement and has found support between the Fibonacci Retracement 0.25 and 0.382 levels taken between the Wave 2 & Wave 3 Extremes. This level is at the same support and resistance level on the Wave 3 from February this this year. There is a Harmonic retracement of 0.886 between the M pivot low in Wave 3 and the Wave 3 extreme which also backs up this support level. I have 7/9 of my trade setup indicators in the green and am looking to enter above the 6/4 MA High line to make it 8/9 before entry. Stop Buy Order @ 87.33 with the Stop Loss @ 82.49 and the initial Take Profit Limit Order @ 99.00, giving a Risk to Reward profile over 1:2. This potential trade still has a great deal to do after the Doji formed yesterday but the setup is strong so it has every chance to trigger this week. Charts as Below for this potential Long Position on WBA Nasdaq.
09/05/15 – WBA Nasdaq – The price for this stock has started to move away from the support level of the Wave 4 extreme and although closed on Friday below the 6/4 MA High, it did attempt to break out. I have decided to be a little more aggressive with my entry strategy to increase the Risk to Reward profile to over 1:3 whilst still entering above the 6/4 MA High and the 50 Day Moving Avergae for Monday’s bar position. Stop Buy Order @ 86.30 with the Stop loss and Take Profit Limit orders remaining the same. Chart as Below for my adjustment to the entry level for this potential Long trade on WBA Nasdaq.
17/05/15 – WBA Nasdaq – My Stop Buy order for this trade triggered during Friday’s session and closed positively near the day’s high and importantly above the entry price. The close was also the first close above the 50 Day Moving Average since the beginning of the 3rd Wave. A further open and close above this 50 Day MA will surely give momentum to this 5th Wave move. Chart as below showing the entry into this trade on WBA Nasdaq.
02/06/15 – WBA Nasdaq – My first scalp on this stock during yesterday’s session culminating in a great 2.5% profit on my trading account balance. The first 45 minutes of the session was a Bearish with a failed attempt at 10.00 am to break back to the main trades Bullish direction. At 10:20 am a Bullish Engulfing pattern was made indicating a stronger probability of a Bullish reversal succeeding. I entered the scalp trade on the next candle when the price hit 85.01, which was $0.05 higher than the engulfing candle high. The momentum was strong on this move and at 11:00 am I decided to manually close the trade and take the 2.5% profit. This is a slight change on my management strategy with these scalp trades as I usually manage with Trailing Stops, but I have decided to be more aggressive with taking profit at signs of exhaustion or at previous support and resistance levels as in this case. Chart as Below.
08/07/15 – WBA Nasdaq – As the price was above my entry during yesterday’s session I decided to Time Stop this trade as I have been it far to long and need to thin out my trades and reduce my exposure to these very unusual and volatile markets. This gave me a small 0.25% profit on my trading account balance for the main trade and a total NET profit, including my scalp, of 2.75% on my trading account balance for my trading activities on this stock during the last month I will keep an eye on this stock as once the Greek situation is sorted out there maybe an intra day break out opportunity or even a scalp. Chart as Below.