EITA(5206): It Is Ready To Test $1.59 And Heading To $1.80/$2.00

My Trading Plan

I bought in $1.40 and I will scale in more once the price move beyond $1.43,  because I am anticipate it should heading to target of $1,57/$1.65. I will pay attention to resistance line at $1.50/$1.59 and apply trailing stop along the price up. I will stop loss if price close below $1.30/$1.24

I bought it, the reasons is...

1.) It was breakaway from symmetric triangle or correction trend-line @ $1.40 which is a bullish implication and confirm correction is over

2.) I anticipating upswing is just kick started and heading to target of wave 3, intermediate degree(Apply to long term investors) target which is $1.60/$1.80.

3.) Primary wave degree(Apply to Institutional traders) also forming wave 3, and it is heading to target of $2.00.

4.) Formed bullish hidden divergent, which is indicate trend continue pattern and most likely will build higher low and uptrend pattern.

5.) Healthy correction with thin volume, upswing kick start with sufficient volume kick in, RSI stay above 50 and MACD cross over 0

6.) Good Earning as increased 59.78%

7.) Give 2 sen Divident

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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