This is in continuation to our ongoing tracking of PPL wave structure
If the wave count is correct then wave C has started which can take prices down anywhere from 165 to 140 level and further below.
Alternately, price can still be in wave B which can extend upward or sideward.
Since the overall market is under consolidation which we have already mentioned in our Karachi All Share post, we prefer short selling over buying at the moment. Therefore we will short sell PPL once price breaks below 181.50.
Trade setup:
Entry price: 181.50
Stop loss: 200
Targets:
T1: 165
T2: 140
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.
If the wave count is correct then wave C has started which can take prices down anywhere from 165 to 140 level and further below.
Alternately, price can still be in wave B which can extend upward or sideward.
Since the overall market is under consolidation which we have already mentioned in our Karachi All Share post, we prefer short selling over buying at the moment. Therefore we will short sell PPL once price breaks below 181.50.
Trade setup:
Entry price: 181.50
Stop loss: 200
Targets:
T1: 165
T2: 140
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.