HHGROUP (0175): was Prepared and Ready to go up !!!

My Trade Plan 

I am bough this stock, because I am anticipated it will breakaway from RM 0.495 and heading to RM 0.515, if prices successfully stay above Rm 0.515, most likely it will test RM0.550 and RM 0.620.
Any weakness show and I will collect on RM 0.470, it is second opportunity for me to collect more
My Stop loss is below RM 0.445.
I will start to lock in profit when it hit Rm0.55 and remaining will try to Rm 0.620 with trailing stop

Technical analysis

It was all the way down right after the IPO on last year, it formed a downtrend channel and the trend-line was break by a big candle on 23/1/2015, this big candle also break the double bottom formation, which showing us a strong indication!!! bottom was reached and reversal up is coming.

Right after the break out, retracement and correction  about a month, which is showed the strong support at the RM 0.450, which is right at double bottom neckline and downtrend channel back support line.

From Elliott wave point of View, it is forming an sharp corrective wave up pattern, In Which is wave A and C are TREND wave and B does not retrace more than 61.8% of wave A, it most common corrective pattern see in Elliott wave,
Once price reach and go beyond 0.495 and is comfirm  ABC formation and target for wave C will be RM0.575.

 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:

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