It is the time to demonstrate Bull Power !!! Yong Tai bhd heading to $0.870/$0.970/$1.07

Executive summary

Corrective wave 4 was ended and bottom was found at $0.630, this was validated by recent rally when price reach $0.795. Right after that, corrective wave take place  ad price down to $0.710 which was formed inverted right shoulder bottom, 3 green candles rally were build complete inverted head and shoulder on today(12/17/15) !!!  ! It is a strong evident of extended wave 5 is under development and I am anticipating it should test $0.800 soon !!! breakaway from $0.795 will build and confirm Elliott wave 3(immediate wave count) kick in and heading to $0.875/$0.970/$1.17. Along the way to the target, we should face resistance of  0.830/$0.880/$1.00.
I will lock partial profit and apply trailing stop along the resistance line. my Stop loss is $<0.700( end of day)

Technical justification: 

Wave 3 of 3 of 3 is on going 

Tt is very bullish wave count and apply to aggressive trader/investors, because retracement of wave 2 is just complete and wave 3 just kick start, it will declare 3 consecutive wave 3 confirm when price go beyond $0.890, when this happen normally prices will accelerate up and many traders will join the ride to take advantage of the ride.

Extended wave 5 kick in 

Wave 4 correction was over and extended wave 5 is forming !!! In the wave 4 internal structure we can see it formed a inverted head and shoulder ! It is an evident to indicate extended wave 5 is under development. target for wave 5 will be $0.875/$0.970

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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.

DISCLAIMER:

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