image of M stocks trading journal header

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 price, Stop Loss and Target price for this potential 5th wave move long on the 60 minute timeframe.  The original video can be viewed  >>>HERE<<<

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 initial support in the Green Pullback zone, which indicates 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, 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.

image of M trading chart for swing trading entry

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 the 22nd February and proceeded to move up for a while until it bacame range bound and closed above the original entry price.  After an intial dip down, the price movement higher was strong on Friday the 23rd and hit our automated target zone, at which time profit was taken as we didnt want to carry over the weekend.  In the chart below we can see the prce action on the 60 minute timeframe as described with a great 1.6% profit on the account balance taken for a 1% risk for this typical 5th wave swing trade over 2 days.

image of M trading chart with targte zone for swing trade hit

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.


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