16/04/15 – WFM Stock Nasdaq – This stock has found new lows on this current Wave 4 pull back and broke the previous support level over the last two sessions. A false bar has formed on the stochastic indicating a Bearish Trend is now in force. I have cancelled my Stop Buy Order for now and will just observe the price action for the rest of the week and look for potential entries if the price action starts to pull away from this wave 4 pull back. Chart as Below
12/04/15 – WFM Stock Nasdaq – The wave 4 pull back seemed to find support at the TJ’s Ellipse during last week and now has 8/9 of my indicators in the green. I have had to adjust the order slightly to compensate for a new Wave 4 low and bring he entry level down to achieve a beter Risk to reward whilst remaining reasonably conservative with the entry. Stop Buy order Now @ 53.02 which is above the highs of the last 12 bars (days) and way above the 6/4 MA high for Monday’s bar position, which would give 9/9 indicators in the green on entry. Stop Loss @ 50.86 with the Initial Take Profit Limit order @61.50, giving a potential Risk to reward of 1:4. An updated chart is below for this adjusted order on the WFM Stock Nasdaq.
03/04/15 – WFM Stock NASDAQ – I have been keeping an eye on this smooth but long Wave 4 pull back for some time now and the price does seem to have found support with the TJ’s Ellipse due to be taken out at this support level during Monday’s Session, which will give 8/9 indicators in the green. The Trend Channel is nice and tight and if the price does break out and close outside then there is a high probability that the Bearish pull back is complete. I am still considering a conservative entry strategy due to the high volatility in the markets and will look to enter above the 6/4 MA high line giving 9/9 indicators int he green on entry. Stop Buy Order @ 53.53 which is way out of the Trend Channel, avove the /4 MA High and above the small gap down during the Wave 4. Stop Loss @ 50.98 and the initial Take Profit Limit Order @ 50.98, which gives a Risk to reward profile of 1:3. Charts as Below for the Setup of this potential Long Trade on WFM Stock NASDAQ.