This is in continuation to our ongoing tracking of PSO shared earlier in which we are anticipating price to reach 350 - 360 area to go long.
As our MARI trade (long) ended today making reasonable profit freeing our cash and since cash is trash, we have decided to take a small portion of short position in PSO.
If our wave count is correct then we will reach buy zone of 360-350 which will be our target for this short sell trade setup.
Risk/Reward ratio is not so promising on this one but we feel quite confident.
Trade setup:
Entry price: 377.50
Stop loss: 406
Target: 350 - 360
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.
As our MARI trade (long) ended today making reasonable profit freeing our cash and since cash is trash, we have decided to take a small portion of short position in PSO.
If our wave count is correct then we will reach buy zone of 360-350 which will be our target for this short sell trade setup.
Risk/Reward ratio is not so promising on this one but we feel quite confident.
Trade setup:
Entry price: 377.50
Stop loss: 406
Target: 350 - 360
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
Update:Our trade did not get activated and once the price move above 405 this trade setup will get void, as price will most probably keep on rising to reach 417-425 area or higher.
We have also updated our previous PSO chart on how we will trade for long position.
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.