GOB: Wave 3 on the way of making and heading to $0.570/$0.640/$0.690/$0.910

GOB(1147)

My Trading Plan
I am buying now and will scale in more after $0.525 remove, I will lock partial profit along the resistance line and full profit at the final target prices.
I will stop loss if price close below $0.470.

Elliott Wave 
2 consecutive wave 3 were formed and clear uptrend direction was showed which is formed higher high and lower high, Target for main trend(long term)wave 3 is $0.690/$0.910, Target for sub-wave 3 is $0.570/$0.640



Chart pattern
Formed double bottom and also early stage of cup and handler forming, Neckline for both formation is $0.525, break above it will bring price to move to $0.575 and beyond.

















Resistance 
$0.565/0.585/$625/$0.660

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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