Elliot Wave Count
The chart below is show 4 consecutive waves degree suggesting the stock is going up with strong up swing momentum, I am just draw out 3 wave degree to make the chart easy to read.
The main trend is primary degree, which will pulling institutional traders attention, follow by minor is med term investor and last is minute position trader. I like this trade is have 3 reasons
- 3 consecutive waves degree is pointing to north is wave 3 breakout, it is most profitable trade and strongest and longest trend in Elliott wave theory, if trend is work out, well
- Smallest wave degree is wave 2 correction ending, which means wave 3 will begin soon, once it work out go beyond the territory of wave 1 peak, prices will accelerate speedy up, in this case, we had 4 consecutive wave 3 is pointing up, it will carry very meaning ride for Institutional traders.
- 0.765 support tested many time and hold strong, it is typical signal to comfirm wave 2 is ending/ended, it make a trade here and stop loss below it will give very good risk to reward ration.
Trade plan
Institutional Trader Trade Plan
Action : buy, 4 wave degrees uptrend
Type signal : Breakout, conservative
Applies to : Institutional Trader (Primary)
Conservative Target :0.865
2nd Target :1.03
Exit Alert :0.730
Med Term investor Plan
Action : buy, 3 wave degrees uptrend
Type signal : Breakout, conservative
Applies to : Med Term investor(Minor)
Conservative Target :0.855
2nd Target :0..955
Exit Alert :0.730
Position traders Trade Plan
Action : buy, 2 wave degrees uptrend
Type signal : RETRACE, aggressive
Applies to : Future traders(Minute)
Conservative Target :0.860
2nd Target :0.950
Exit Alert :0.730
Jason trade plan.
Action :I Long/buy
Type signal : Retracement
Applies to : KLSE TA
Conservative Target :0.840/0.835
2nd Target :0.865
Late Exit Alert :0.730
Earlier Exit Alert :0.750
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.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
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.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
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