EVERGREEN : Only the Bull in the bear Market ???

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Market 4 Stages:

In high level of stock market movement will have 4 stages, there are stage 1 Accumulation,2 is Mark up, 3 is distribution, 4 is market down.

Stage 1 Accumulation : Stock is accumulating by Smart money or professional trader.

Stage 2 Mark Up : Stock is marking up to higher prices for better value.

Stage 3 Distribution : Stock  is Distributing or change from the strong holder to  weak holder. 

Stage 4. Mark down : Stock prices degraded and no more support by strong holder.

Where are we now ? 

We can see base on the chart, Evergreen under accumulation stage since 2012, it above 2 years long. the recent rally and break away from the resistance zone 0.68-0.715 seem like moving in to stage 2 and it is very bullish implication.

Elliot Wave analysis

Mid term trend wave degree : Wave 3/C

Short Term trend wave Degree:  Wave 3

Short Term wave : Typical Wave 3 will reach Fibo extension on 100%, 161.8% or 261.8%, short term Elliot wave reach 161.8% and profit taking was take place at 0.73, once the profit taking volume aborted and it should move on to 0.85.

Long Term Wave : it clear the 100% Fibo extension been broken and it moving to 161.8%, which is 0.84 to completed the wave C, expected profit taking take place over here, once supply at this point clear and it will move to 1.07.

MY Trade plan

Support and Resistance

Support 1 : 0.710

Support 2: 0.680

Resistance 1 : 0.77

Resistance 2 : 0.84

Resistance 3 : 0.85

Resistance 4  : 1.03

I do see profit taking started on 0.735, as long as this  resistance break , I am anticipated the prices will move further up to 0.77 and 0.84

any weakness of it is offering me to scale in at the support area which is at 0.710/0.680

My Stop loss position will below 0.670. 

Trading Challenge

Many people committed to buy stock is very easy, when come to profit taking and cut loss is one of the most difficult part in trading world, talking about profit taking is dealing with greed and stop loss is dealing with fear, cutting loss is a must in trading world because it stopping my capital continue to loss, in order to stay alive in trading world... it is a must !!! it is not an option, else I suggest you get out of the trading and you are not suitable.

I wanted to used simple example to share on the cut loss ... you bought an egg and prepare to  used it for fry rice, some how you notice/suspect the eggs you pick was/may turn bad.... the question now is shall out throw/scrap the bad one and pick another .... or nevermind bet or hope the suspicious "bad" egg will be good and risk the good rice which is ready to cook ? you make the call... I am believed in order to win I got to know how to prevent I am loss in the market... if I notice I am wrong... I got to admit and cut the loss and make a next move.

As a reminder for myself
I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.
Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.

DISCLAIMER:

Stock analysis and comments presented on klseelwavetrading.blogspot.com are solely for education purpose only. They do not represent the opinions of klseelwavetrading.blogspot.com on whether to buy, sell or hold shares of a particular stock.

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