SYSTECH BHD : Sharp WXY Complicated Wave up to 0.305/0.335/0.410

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Elliot wave is one of themost complicated technical analysis and it is really good tool to do forecast on financial component movement and direction, some time I do encounter a challenge to identifythe wave count. Under this situation, I will just stay away or zoom down to the latest date and to do and verify the wave count.
For this counter Systech big picture, Wave count is kind of mix picture, I decided to zoom down to recent data from Oct'2014 till today and I can see it is bullish implication,

1st level wave degree is complex correction wave degree, which is WXYc

This patter above has been defined as a complex corrective pattern in which each wave it self is a corrective wave. the (X) wave should retrace more than 61.8% to qualify as a WXY. tt is common corrective pattern, which can take the form of a sideways pr a sharp correction.

Second level wave degree is ZigZag ABC

This pattern(latest move up) has been defined as a sharp corrective pattern in which A and C are Trend waves
Wave B does not retrace more than 61.8% of Wave A, it is most common corrective pattern, which mostly occurs in wave 2 or x

Support Resistance 

Support 1 : 0.255
Support 2 : 0.235
Resistance 1 : 0.305
Resistance 2 : 0.335

My Trade plan 
I am scale in at 0.265.
My profit target near the resistance level which is 0.305/0.335/0.410
Any weakness will provide opportunity to scale in near the support area at 0.255 and 0.235

My Cut loss 
Below 0.225

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.

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