Rubberex is heading to $0.830/$0.850/$0.940,

mwong3

Publish date: Thu, 08 Oct 2015, 10:41 PM

Rubbrex: Executive Summary

It was breakaway from resistance line at $0.750 with optimum volume on 1^st half on today, this action was formed 2 consecutive wave 3 which is bullish signature and it was pulling many traders attention on 2^nd half trading section with substantial volume thrust in and close above $0.750. I bought in this at $0.755 because of 2 conservative wave 3 target is $0.830/$0.850/$0.940, along the path to the target; most likely it will face resistance line at $0.800/$0.830/$0.850. Immediate support is $0.750/$0.730 and strong support at $0.640. I will stop loss if end of day candle close below $0.730.

Technical justification

1. Elliott wave : 3 consecutive positive wave 3/C point up.

2. Technical indicator

a. Trade above 5/10/20 days MA which was indicate bullish implication on short to med term

b. RSI breakout and which is align to the breakout direction and it indicate momentum should continue.

c. ROC uptrend.

d MACD histogram long green bar and signal line stay above 0

Trading Challenge

Many people committed to buy stock is very easy, when come to profit taking and cut loss is one of the most difficult part in trading world, talking about profit taking is dealing with greed and stop loss is dealing with fear, cutting loss is a must in trading world because it stopping my capital continue to loss, in order to stay alive in trading world... it is a must !!! it is not an option, else I suggest you get out of the trading and you are not suitable.

I wanted to used simple example to share on the cut loss ... you bought an egg and prepare to used it for fry rice, some how you notice/suspect the eggs you pick was/may turn bad.... the question now is shall out throw/scrap the bad one and pick another .... or nevermind bet or hope the suspicious "bad" egg will be good and risk the good rice which is ready to cook ? you make the call... I am believed in order to win I got to know how to prevent I am loss in the market... if I notice I am wrong... I got to admit and cut the loss and make a next move.

As a reminder for myself

I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.

Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.

DISCLAIMER:

Stock analysis and comments presented on klseelwavetrading.blogspot.com are solely for education purpose only. They do not represent the opinions of klseelwavetrading.blogspot.com on whether to buy, sell or hold shares of a particular stock.

Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.

All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.

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