Watchlist entry XLS-NYSE

12/07/14 – Another bar (week) has passed for this potential trade on my watchlist, but again it hasn’t made any move towards my entry point.  The PTI continues to be below 36 and the momentum doesn’t seem to be there for this stock to break out into a wave 5.  There is potential for this stock price to make further lows on this current Wave 4 pull back from its overall and strong Bullish Trend.  I have cancelled the BUY order at this time and will keep it in the background on my watchlist.  I will file this post under archives and re-instate it if the trade comes back to me after the summer. As Below

watchlist

07/06/14 – The PTI has gone below 35 which is concerning for this potential trade and even though the last two bars (weeks) have been positive I need to be cautious.  This drop in the PTI could mean that the W4 pull back is not over and the price may turn and pull back further down to form a new W4 low around the 14.56 price.  I have cancelled the BUY order for now and will let next weeks bar play out to see what happens before I decide on the next course of action.  This is exactly why us traders have a watchlist, just keep an eye on potential trades that interest us. As Below

watchlist

24/05/14 – New addition to my watchlist – The Doji formed by last week’s bar showed a lack of appetite by traders for the low prices that formed a new W4 extreme low.  Instead the Bull’s took over at the end of the week and the price closed pretty much near the weeks open price.  This may indicate that this W4 pull back from a strong overall Bullish trend is over.  I have placed a BUY order outside the Trend Channel for next weeks bar position (blue vertical line) and above the high of two weeks ago.  BUY order @18.05 with the Stop Loss @15.80 and the Take Profit Limit Order @22.50, giving a risk to reward ration over 1:1.6.  I will be away for a week so didn’t want to lose the chance of getting in this trade if there is strong positive action next week.  As Below

XLS#3 XLS#1 XLS#2OSC

fergus@jagseven.co.uk'

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