Recommended Reading
How to Trade Elliott Waves
- Trend Following
- Technical Analysis
- Trading for a Living
- The New Options Advantage
- Reminiscences of a Stock Operator
- Options, Futures, and Other Derivatives
How to Trade Elliott Waves
Allied Irish Banks (AIB) is a Strong August Monthly Seasonal stock that has been beaten Down along with the European crisis (perfect! timing) . . and here is how I would Trade it:
- wait to Buy after either a good breakout above the 50-dsma or after a Drop towards Support that then starts rising again
- use that Support level to guide your Stop-Loss level .. I'd use a Stop-Loss of a Close under 2.00
- it takes a lot of the risk out of a Trade when you can pair good Stock Seasonality along with good Technical Analysis ... the parameters are well defined . . this is a one-month or less Trade with exact entry and exit levels .. nice!
