Sunday, June 19, 2016

GENETEC(0104): Major Key Reversal Up Just Around The Corner !

Now there are 4 consecutive wave degrees in a down trend that have a probability of completing
five waves! For picking a bottom this is a first alert. The more patterns of different wave degrees show 5 waves that are completing,  the higher the probability that a major reversal is just around the corner.

This is an early warning so prices could still decline further if the patterns extend, I check other
indications of an ending trend as well. I used bullish divergent to support and validate the wave 5 down should end and potential reversal should kick in anytime, the chart below is show MACD signal line formed bullish divergent.

Active traders should focus on smaller wave degrees starting from Minor or minute. I am the impulse wave 1 should kick in and heading to $1.16/$1.20/$1.60.
My Trading plan, I am collected some and will buy more near support which is $1.03/$1.00. I will stop loss if break and End of Day Close below $1.00 and I will lock partial profit along the resistance line and full profit at $1.26.

What is Wave 5 for down trend market ?

Wave 5: Wave five is the final leg in the direction of the dominant trend(down trend). The news is almost universally negative  and everyone is bearish. Unfortunately, this is when many average investors finally sold , right before the bottom. Volume is often lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high but the indicators do not reach a new peak). At the end of a major bear market, bulls may very well be ridiculed .

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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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