This is in continuation to our ongoing tracking of PPL wave structure
PPL is most probably in wave C of a Y or B wave which will target areas of 200 and further up 230 - 250 level. Our ideal buy zone is at 165 - 160, however looking at the market momentum we might not get to our buy zone and prices will rise directly.
We will enter long positions once market breaks above 178 level (keep eye on the volume), although entering market at 178 will significantly effect our risk/reward ratio compared to entering at the buy zone of 165 - 160, either ways we will take long positions.
Alternately, if the prices decline below 151.30 then this trade setup will get void, 151.25 can be used as stop loss.
Trade setup:
Entry price: 165 - 160 (Ideal) or 178
Stop loss: We are bullish on PPL long term therefore we will hold these positions
Targets:
T1: 198 - 200
T2: 230 - 250
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
PPL is most probably in wave C of a Y or B wave which will target areas of 200 and further up 230 - 250 level. Our ideal buy zone is at 165 - 160, however looking at the market momentum we might not get to our buy zone and prices will rise directly.
We will enter long positions once market breaks above 178 level (keep eye on the volume), although entering market at 178 will significantly effect our risk/reward ratio compared to entering at the buy zone of 165 - 160, either ways we will take long positions.
Alternately, if the prices decline below 151.30 then this trade setup will get void, 151.25 can be used as stop loss.
Trade setup:
Entry price: 165 - 160 (Ideal) or 178
Stop loss: We are bullish on PPL long term therefore we will hold these positions
Targets:
T1: 198 - 200
T2: 230 - 250
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Nota
Prices have been declining slowly towards our buy zone, our buy orders are already in place. Let see if our trade gets active today or tomorrow.Dagangan aktif
Our trade got activated today at 165, we will continue to add to our positions tomorrow at 164 > 163 > 162Entry price: 165 ( Since we are looking to add more positions tomorrow this will come down )
Stop loss: We are bullish on PPL long term therefore we will hold these positions
Targets:
T1: 198 - 200
T2: 230 - 250
Nota
More positions added at 164Nota
More positions added at 163Nota
Orders are in place, price should reach 162 - 160 todayNota
More positions added at 162Nota
Entry price: 163.50 ( averaged )Targets:
T1: 198 - 200
T2: 230 - 250
Nota
Price has started to rise. Keep a close eye on the volume once price near the 174 - 176 level, break above should be with convincing volume, otherwise price might just nib the 182-184 level and turn back down.Nota
Price has broken above the resistance line, to keep the bullish momentum going price should close above 178 better off if above 180.We will sell 40% positions at 198 - 200 level, next 40% at 214-217 level and next 20% at 230-240 level
Nota
Do not forget to place your orders earlyNota
Near term resistance is at 193 - 194, let see if the bears will come in or the bulls will run thru them :)Nota
Make sure to place your orders early in the dayNota
As expected price has taken a hold around 193 - 194 area and since there is a possibility that price might turnaround from here and our targets might not get filled, we have decided to modify this trade a little.We have closed 25% positions at 192 and are adding stop loss to the remaining positions 75% positions, as we don't want our wining trade to turn into a complete losing trade.
Also, we are slightly modifying are targets as we are anticipating that our BOP & KOHE trade setups will get mature soon.
Stop loss: 176.45
Targets: 199 (50% positions) & 210 (25% positions)
Nota
We are anticipating a high volume day tomorrow either bullish or bearish. If this ends on the bearish side we might have to close this trade pre-maturely otherwise our stop loss will get trigger tomorrow.Nota
The price dipped toward 177.61 and is trying to take support from here, now as the stop loss was not taken out the target remains valid, however our confidence in this trade has faded.Therefore we have decided to close all are positions and will not risk our winning trade to become a losing trade.
Dagangan ditutup secara manual
We have closed the remaining 75% positions at 181Overall performance -
Entry price: 163.50
Exit price: 192 (25%) & 181 (75%)
Profit @ share: 20.25
Gross profit: 12.38%
Nota
Price is retesting the support, If the support holds and price start to rise again, we will look forward for a buy trade setup which I will share accordingly.Alternately, if the support gives in then there is a possibility the price might go towards 128 level.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.