Stocks Trading Journal for Long 5th Wave Trade on GS
5th Wave Stocks Trading Journal for GS
This stocks trading journal is a review of a recently closed Long 5th Wave Swing Trade on GS. On the 27th August 2018, before the markets opened, we posted a video in our Signals membership for a potential Long Swing Trade for GS on the 60 minute time frame. The video had a quick analysis, entry price, Stop Loss and Target price for this potential 5th wave move Long on the 60 minute time frame for $GS. The original video can be viewed >>>HERE<<< . During the first hour of the trading session the trade went through our 5th wave target zone.
Our wave5trade 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 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 $237.08 with Stop below the Wave 4 low at $234.50. Our automated 5th Wave Target zone in Blue was around the $241.53 price for this Long trade, 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)
GS 5th Wave Stocks Trading Journal – What Happened Next
The price for $GS gapped up to just below our entry order price and then proceeded to gather momentum with the Bullish markets. Within the first hour the price pushed through our 5th wave target zone and we took great profits around 2% of trading account balance. The price did move slightly higher during the trading session but that first impulse move was the move of the day and a sensible place to take great profits.
This trade used our Multiple time frame strategy, taught in our Elite Training Course combined with our Elliott Wave Indicator Suite. When we get these setups, we must put the orders on, as they are high probability 5th wave moves. These moves do not always go this quick, but “You Gotta Be in it, to Win it!!”, so setting up all strong potential 5th wave trades from our signals service using our strategies, will give you the chance to get in trades like this.
The Chart below shows the massive move through our target zone in the first hour of the trading session. 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.