TradingView
jojofang0901
Jul 3, 2020 3:58 PM

PEPSI pay attention to this correction for long Long

PepsiCo, Inc.NASDAQ

Description

Hi traders:

PEP also falls on my mid/long term watch for equities buy.

We see price dropped sharply from mid February, and strong bull impulse up.

Price then begin to form a larger continuation correction structure, giving us a good potential opportunities for more buy.

Currently this structure is not complete yet, I would wait for price to tag the bottom of the structure and observe for reversal indication,

or price breaks out of this large correction and in this case I will wait for smaller continuation correction to go long.

Thank you

Comment

Comments
aymanjanbi7
since we are on bullish then we would unlikly see bounce down, however if we start bearish then maybe it will be good opportunity to enter as i am waiting for my first inital to enter
jojofang0901
@aymanjanbi7, Yes. In my trading plan I am always looking for the best Risk:Reward trade possible. I understand price can tag the low of the structure which gives me the best R:R opportunities to enter. However, I also acknowledge that price may break out this week and we wont be enter from the bottom. Nevertheless its understanding the nature of the price action and forecast all possibilities so we are prepared for anything. Thank you
More