This CERN stock trading journal is a review of a Long Swing Trading 5th wave move on $CERN. I write a great deal of these trading journals, not just because of the a high proportion of my trades hit our Elliott Wave, Automated 5th wave target zones. But because every single Stock acts in a slightly different way to Earnings, News and Sector pressures. So when it comes time to trade the same Stock again, I have the experience written down to learn from. I hope you find this trading journal educational.
Before the markets opened, on 16 November 2019,
I posted a Stocks Trade Idea for a potential Long Swing Trade for $CERN on our TradingView profile HERE. The original trade idea includes full analysis & Setup before the markets opened . The Signal came from our Elliott Wave Indicator suite for the TradingView platform.
In the original chart screenshot below we can see that the CERN Stock finally found support at our automated probability pullback Amber zone on its Elliott Wave 4. This 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. Our Stocks swing trading strategy involves trading the 5th Wave of the Elliott Wave sequence, as it is the highest probability move in a “with trend” trade.
The original chart shown below shows the setup with a Long entry price of $69.55 with Stop at $64.84. Our automated 5th Wave Target zone in Blue was around the $80.
Therefore, a Risk to Reward of 1:2 for this longer term swing trade was achievable. Below this original setup chart, I discuss the entry and trade management for this swing trade that hit our 5th wave target zone.
CERN Stock Trading Journal – What Happened Next!
Using our Elliott Wave Indicator Suite , this type of move on average take 25 weeks to reach our target and in this case we were very early! Earnings played a large part in the last move up to the 5th wave target zone. Looking back at recent earnings results and reactions was conducted to assess the probability that the CERN Stock would continue in the overall Bullish trend it finds itself in. The chart below shows our automated 5th wave target zone being hit. Profit was taken at $80 for a fantastic long term swing trade on CERN. Remember, the original CERN Stock Swing Trade Idea can be viewed >>>HERE<<<