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.
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