As most of you know, I have an exclusive club at WaveTimes.net where members approach me for consulting work, or participate in trade ideas which use Elliott Waves. We have just closed another trade where Elliott Waves helped us make another 8% profits. I am happy to share the charts so that you can see my approach and its effectiveness. I teach these methods in great detail in my online program as well.
The stock where we made 8% using Elliott Waves trades in the Indian Stock Markets and also figures in the derivatives segment. Century Textile and Industries is a textile, cement, paper manufacturing and export company based in Mumbai. The main business activity involves manufacture of cotton textiles, yarn, denim, viscose filament rayon yarn, tire-cords, caustic soda, sulphuric acid, salt, cement, pulp, and paper. I spotted its potential about a month ago and alerted members via email. You can see the thread below.
11 Dec 2019
Hello. The stock is Century Textiles & Industries Ltd. The charts below give my reasoning.
Then on 7 Jan 2020, I sent the following email
So we are long our full position at an average rate of 473 or so.
I had a few anxious enquiries yesterday about the developments regarding Iran and whether we should still be buying around 468. The response was, yes, because the news was not company specific or India specific. We have a plan and we should execute it. Otherwise, why have a plan at all?
10 Jan 2020 Morning:
Good morning folks,
As you know, we are long at an average rate of around 473, and today the stock has reached a high of 505.75. We are looking for a minimum of 8% return at which time I will consider the trade as closed. But that is not to say the stock will not go higher than that level. It is just that I will stop sending you updates!!
10 Jan 2020 Afternoon update
It is exactly one month since we launched this trade and it has reached the profit target.
The high seen in this stock today was 511 which is 8% up from our average buy rate of 473. Hence, I am considering the trade as closed and you will no longer receive any further updates.