This is in continuation to our previous published idea in which we decided not to take buy positions due to developing geopolitical tensions which luckily was a wise decision. Now since the tensions have eased up and the bail out have been approved, the bullish scenarios have opened up again.
PPL is most probably in wave C of an A or B wave which is about to get completed. Our preferred wave count suggest that we should get one more leg down towards 124-106 range marking the end of the downtrend.
Alternately, if the prices start to rise and do not go below 128.56 and takes out 155, we will mark this C wave as completed.
Trade setup:
Entry price: 124-106
Stop loss: We are bullish on PPL long term therefore we will hold these positions
Targets: will update later once price reach our buy zone
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 an A or B wave which is about to get completed. Our preferred wave count suggest that we should get one more leg down towards 124-106 range marking the end of the downtrend.
Alternately, if the prices start to rise and do not go below 128.56 and takes out 155, we will mark this C wave as completed.
Trade setup:
Entry price: 124-106
Stop loss: We are bullish on PPL long term therefore we will hold these positions
Targets: will update later once price reach our buy zone
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.
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.