PPL PROBABLY IN WAVE '' C '' - LONG

Jul 7

This is in continuation to our ongoing tracking of PPL wave structure

PPL is most probably in wave C of a Y or B wave which will target areas of 200 and further up 230 - 250 level. Our ideal buy zone is at 165 - 160, however looking at the market momentum we might not get to our buy zone and prices will rise directly.

We will enter long positions once market breaks above 178 level (keep eye on the volume), although entering market at 178 will significantly effect our risk/reward ratio compared to entering at the buy zone of 165 - 160, either ways we will take long positions.

Alternately, if the prices decline below 151.30 then this trade setup will get void, 151.25 can be used as stop loss.

Trade setup:

Entry price: 165 - 160 (Ideal) or 178

Stop loss: We are bullish on PPL long term therefore we will hold these positions

Targets:
T1: 198 - 200
T2: 230 - 250

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.

Jul 15

Note

Prices have been declining slowly towards our buy zone, our buy orders are already in place. Let see if our trade gets active today or tomorrow.

Jul 15

Trade active

Our trade got activated today at 165, we will continue to add to our positions tomorrow at 164 > 163 > 162

Entry price: 165 ( Since we are looking to add more positions tomorrow this will come down )

Stop loss: We are bullish on PPL long term therefore we will hold these positions

Targets:
T1: 198 - 200
T2: 230 - 250

Jul 16

Note

More positions added at 164

Jul 16

Note

More positions added at 163

Jul 21

Note

Orders are in place, price should reach 162 - 160 today

Jul 21

Note

More positions added at 162

Jul 21

Note

Entry price: 163.50 ( averaged )

Targets:
T1: 198 - 200
T2: 230 - 250

Jul 23

Note

Price has started to rise. Keep a close eye on the volume once price near the 174 - 176 level, break above should be with convincing volume, otherwise price might just nib the 182-184 level and turn back down.

Aug 1

Note

Price has broken above the resistance line, to keep the bullish momentum going price should close above 178 better off if above 180.

We will sell 40% positions at 198 - 200 level, next 40% at 214-217 level and next 20% at 230-240 level

Aug 4

Note

Do not forget to place your orders early

Aug 7

Note

Near term resistance is at 193 - 194, let see if the bears will come in or the bulls will run thru them :)

Aug 8

Note

Make sure to place your orders early in the day

Aug 8

Note

As expected price has taken a hold around 193 - 194 area and since there is a possibility that price might turnaround from here and our targets might not get filled, we have decided to modify this trade a little.

We have closed 25% positions at 192 and are adding stop loss to the remaining positions 75% positions, as we don't want our wining trade to turn into a complete losing trade.

Also, we are slightly modifying are targets as we are anticipating that our BOP & KOHE trade setups will get mature soon.

Stop loss: 176.45

Targets: 199 (50% positions) & 210 (25% positions)

Aug 12

Note

We are anticipating a high volume day tomorrow either bullish or bearish. If this ends on the bearish side we might have to close this trade pre-maturely otherwise our stop loss will get trigger tomorrow.

Aug 18

Note

The price dipped toward 177.61 and is trying to take support from here, now as the stop loss was not taken out the target remains valid, however our confidence in this trade has faded.

Therefore we have decided to close all are positions and will not risk our winning trade to become a losing trade.

Aug 18

Trade closed manually

We have closed the remaining 75% positions at 181

Overall performance -

Entry price: 163.50

Exit price: 192 (25%) & 181 (75%)

Profit @ share: 20.25

Gross profit: 12.38%

Sep 1

Note

Price is retesting the support, If the support holds and price start to rise again, we will look forward for a buy trade setup which I will share accordingly.

Alternately, if the support gives in then there is a possibility the price might go towards 128 level.