Stocks Swing Trading Journal for CCE/CCEP
This stocks swing trading journal is a review of a recently closed Long 5th Wave Swing Trade on CCE changed to CCEP. Before the markets opened, on the 16th October 2018, we posted a video in our Signals membership for a potential Long Swing Trade for CCE on the Daily time frame. The video had a quick analysis, entry price, Stop Loss and Target price for this potential 5th wave move Long on the Daily time frame for $CCE. The original video can be viewed >>>HERE<<< . Trade triggered as per our aggressive entry strategy on the 16th October and Hit our Target Zone 1st November.
Our Stocks swing trading strategy involves trading the 5th Wave of the Elliott Wave sequence as it is the highest probability move in a “with trend” trade. The Wave 4 in this case pulled back and found final support in the Red Pullback zone, which indicates an 75% probability that the 5th Wave will go on and make a new High in this current Bullish trend. The Pullback zones are part of our Elliott Wave Indicator Suite. The original chart shown below shows the setup with a Long entry price of $44.38 with Stop below the Wave 4 low at $42.48. Our automated 5th Wave Target zone in Blue was around the $47.40 price for this potential Long Swing trade, giving a Risk to Reward of 1:1.6
Below this chart is commentary on how the trade went and chart showing exit when price went through our automated target zone. (Click on the image to enlarge in another window)
CCE/CCEP Stocks Swing Trading Journal – What Happened Next
We had a strong entry into the trade on the 16th October and also closed near the high for the day, which is a great sign for momentum, which was seen on the 17th October. The markets took over the next day and we had an earlier than expected pull back until we found a higher support level on the 25th October. For the next 8 trading days, this stock gathered momentum until we tipped the 5th wave target zone on the 6th November. On the 7th November the ticker changed from CCE to CCEP and still the price continued to climb until it hit center of our 5th wave target zone. We took profits at 160% x Risk for a great 5th wave trade over 17 days which is typical for this type of swing trade.
Managing the trade was relatively simple, once we had found the higher support level and moved through the recent high pivot formed after entry, we adjusted stop loss below the newly formed support level. Then as the price broke through the previous wave high we adjusted the trailing stop aggressively to 45.33, to lock in 50% x risk profit. Then took all profits and closed trade on the 7th November in our predicted target zone
The Chart below shows our 5th wave Target being hit on the 6th November, on this swing trade on the Daily time frame. The arrow on the chart shows the position of the price at exit on the changed Ticker CCEP. This really highlights how powerful our Elliot Wave indicator suite can be. Remember, the original signals video can be viewed >>>HERE<<< . (Click on the image to enlarge in another window).