MIECO (5001) - MIECO is one of the best choice for Institutional Trader ! It time for Future and Position to buy ?

MIECO (5001) - MIECO is one of the best choice for Institutional Trader ! It time for Future and Position to buy ?

Elliott Wave Count 

The answer is Yes !!! Why I make such conclusion ? that is couple of technical justification base on Elliott wave theory.

1. Looking at the wave count above, it is an extended wave 3, I observed it had total of 5 consecutive uptrend wave are pointing to same direction, they are wave 3/5/3/3/2. which were carrying bullish implication, this type set up will attract institutional trader 
2. Minute wave degree break out away from 0.710 on 27/03, it confirm wave 3 was formed, this is an indication to show Position trader is on the ride.
3. Cantrarian were ease away on 03/04 and volume slow down during correction is a bullish implication, any buying interest show will speed up /accelerating  the price upward.
4. Minuette wave degree is on wave 2 correction, it is offer good value to future trader to collect,  I am anticipating more buying interest increase and prices most like will go up sooner 

I bough this stock and I anticipate it will break above 0.745 and heading to 0.80 and beyond. I will cut loss if prices go below 0.645 . below is the trade plan according to Elliott wave theory and it applied to various type of traders/investors. 

Institutional investors Plan

Action : Buy, 5 wave degrees uptrend

Type signal : BREAK OUT, conservative

Applies to : Institutional Trader(Primary)

Conservative Target :0.850 

2nd Target :1.030

Exit Alert :0.645

Long Term Investor Plan

Action : buy, 4 wave degrees uptrend

Type signal : BREAK OUT, conservative

Applies to : Long Term Investor(Intermediate)

Conservative Target : 0.920 

2nd Target : 1.08

Exit Alert : 0.645

Med Term investor Plan

Action : buy, 3 wave degrees uptrend

Type signal : BREAK OUT, conservative

Applies to : Med Term investor(Minor)

Conservative Target : 0.850 

2nd Target : 0.895

 Exit Alert : 0.645

Position Traders trade Plan

Action : buy, 2 wave degrees uptrend

Type signal : BREAK OUT, conservative

Applies to : Long Term Investor(Minute)

Conservative Target : 0.810 

2nd Target : 0.895

Exit Alert : 0.645

Future Traders Trade Plan

Action : buy, wave degrees correction ended

Type signal : RETRACE, aggressive

Applies to : Future traders(Minutte)

Conservative Target : 0.775 

2nd Target : 0.840

Exit Alert : 0.645

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.

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