M – Stocks Trading Journal – Long Swing Trade

Stocks Trading Journal for Long on M

This stocks trading journal is a review of a recent Long Swing Trade on M. On the 22nd Feb 2018 we posted a video in our Signals membership for a potential Long Swing Trade for Macey’s on the 60 minute time frame. The video had a quick analysis, entry, Stop Loss and Target price for this potential 5th wave move.  The original video can be viewed  >>>HERE<<<

Our TradeTheFifth strategy involves trading the 5th Wave of the Elliott Wave sequence. The 5th Wave is the highest probability move in a “with trend” trade.  The Wave 4 in this case pulled back and found initial support in the Green Pullback zone. Therefore indicating an 85% 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 before the trade triggered when the trade was set up before the markets opened on the 22nd Feb 2018.  Long entry price of $26.02 with Stop below above the Wave 4 low at $25.49.  Our automated 5th Wave Target level in Blue was around the $26.90 level for this long trade. Therefore giving a 1:1.6 Risk to Reward.

Below this chart is how the trade went and chart showing exit when price hit our automated target zone, as part of this stocks trading journal.

M Stocks Trading Journal – What Happened Next

The long swing trade moved through the entry level during the 1st hour of the trading session on 22nd February. It then proceeded to move up for a while until it became range bound and closed above original entry price.  After an initial dip down, the price movement higher was strong on Friday the 23rd and hit our automated target zone. After that, profit was taken as we didn’t want to carry over the weekend.  In the chart below we can see the price action on the 60 minute time-frame as described. Showing a great 1.6% profit on the account balance taken for a 1% risk.

This is a great example of our 5th Wave Stocks Signals service combining with our Elliott Wave Indicator Suite. Our Indicator suite is available for NinjaTrader, ThinkorSwim, TradeStation and MultiCharts.