Stock Swing Trading Journal for Long 5th Wave Trade on KMPR
Stock Swing Trading Journal for KMPR
This stock swing trading journal is a review of a recently closed Long 5th Wave Swing Trade on KMPR. On 14th July 2018, before the markets opened. We posted a video in our Signals membership for a potential Long Swing Trade for KMPR. The video had a quick analysis, entry, Stop Loss and Target price for this potential 5th wave Long on the Daily time frame for $KMPR. The original video can be viewed >>>HERE<<< . It took another two weeks of patience before the price went through our Entry point.
Our Stock swing trading strategy involves trading the 5th Wave of the Elliott Wave sequence. Above all the 5th wave is the highest probability move in a “with trend” trade. The Wave 4 in this case pulled back and found final support in the Amber Pullback zone, which indicates an 80% 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 $76.64. With Stop below the Wave 4 low at $74.1. Our automated 5th Wave Target zone in Blue was around the $87 price for this potential Long Swing trade. Therefore giving a 1:1.6 Risk to Reward.
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)
KMPR Stocks Swing Trading Journal – What Happened Next
The price did initially test our entry on the 19th July 2018, but was just $0.04 short. On the 30th July our Stop Limit order was taken and we entered the Long trade on KMPR, at our original entry price of $76.64. The entry was during a high volume large range day and closed above our entry. The next week or so, was consolidation after the big move into our trade, which is sometimes quite normal when breaking through a resistance level. After the price tested our original entry as support. And moved past the high of the initial resistance pivot point after entry (large red Doji candle after green entry candle on chart below), we started a conservative trade management strategy.
The trade was managed sensibly for the next couple of weeks until our 5th Wave Target Level was reached. Profit was taken on 10th September 2018, at 1.6% of Trading Account balance when price tested $87 in our target zone.
The Chart below shows our 5th wave Target being hit and then price moving down from this resistance zone. This really highlights how accurate our 5th Wave Target Zones can be. Remember. The original signals video can be viewed >>>HERE<<< . (Click on the image to enlarge in another window)
This is a great example of our 5th Wave Stocks Signals service combining with our Elliott Wave Indicator Suite. Which is available for NinjaTrader, ThinkorSwim, TradeStation and MultiCharts.