Tuesday, May 18, 2010

Elliot Wave Analysis: Ready For A Wild "C" (Stop loss above 10.920)?

Sell break 10.490 &10.570 & breakout 10.200 target 150/200p stop 30p (Use Trailing stop 100p). Buy 9.900 stop 100p, target 10.800. Sell 10.730 (fibo 38.2%) target 10.500 stop 30p. Buy break 10.840 target 10.920. stop 30p.
Closed buy breakout 10.680 &amp (-30p)
Closed Sell breakout 10.680 at 10.450 stop 30p = Profit +230 points. 
Closed Buy breakout DJIA 10440/10.530/10.620 (trendline) target 10.810 (ex support), stop loss 30 p.
Profit:  +370p + 280p + 190p =840 points. Track record 7 Trades: (-65p-30p+370p + 280p + 190p-30p+230p-30p). Total Net +915 points = Average +130.71 points/trade.

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