BEARISH PEG play
sSTOP LOSS: 51
TAKE PROFIT: 49.65
Risk-reward: 46.42
Longer term trend: Bearish
Current trend: Bullish
General comments:
PEG has been in a downward trend since Mid November. A bearish trendline was formed with 2 confirmed touches, and we are speculating on the third one - continuing the decline.
What I like:
1) Trade is with the longer term trend, which is bearish.
2) Risk-reward optimal. 2.4x till target and 1.5x till first trouble area, marked with the green flag. It will be when I will take some profit off the table and move stop loss to break even.
What I dislike:
1) Volatile times with global unrest, Syria action, trade wars, etc
Other things to note:
-nil.
*Do support by liking and following! All suggestions/feedback welcome!
x,
iskfx
TAKE PROFIT: 49.65
Risk-reward: 46.42
Longer term trend: Bearish
Current trend: Bullish
General comments:
PEG has been in a downward trend since Mid November. A bearish trendline was formed with 2 confirmed touches, and we are speculating on the third one - continuing the decline.
What I like:
1) Trade is with the longer term trend, which is bearish.
2) Risk-reward optimal. 2.4x till target and 1.5x till first trouble area, marked with the green flag. It will be when I will take some profit off the table and move stop loss to break even.
What I dislike:
1) Volatile times with global unrest, Syria action, trade wars, etc
Other things to note:
-nil.
*Do support by liking and following! All suggestions/feedback welcome!
x,
iskfx
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Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
Automate your trading with Tradingview alerts to Metatrader 4/5 using webhooks.
Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
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