PEP Long 08/05/2024
Updated
Asset and Time frame - PEP, Weekly
Entry Price - 178.12
Exit(Stop Loss) -172.91
Exit(Take Profit) - 196.86
On the daily chart, the price has started breaking the 10-day swing high with a restest, but the main timeframe here is weekly, on the weekly chart, the price broke the 100SMA & the swing high after making an indecision candle and seems to start going north, the price also retraced back from the -61.8 level seem to start a reversal back then but there wasn't any good conviction, the market is a bit bearish imo atm, so lower risk of 0.75% instead of the usual 1%
Calibration - about 40% success rate, missing a candle pattern unfortunately at the break
Entry Price - 178.12
Exit(Stop Loss) -172.91
Exit(Take Profit) - 196.86
On the daily chart, the price has started breaking the 10-day swing high with a restest, but the main timeframe here is weekly, on the weekly chart, the price broke the 100SMA & the swing high after making an indecision candle and seems to start going north, the price also retraced back from the -61.8 level seem to start a reversal back then but there wasn't any good conviction, the market is a bit bearish imo atm, so lower risk of 0.75% instead of the usual 1%
Calibration - about 40% success rate, missing a candle pattern unfortunately at the break
Comment
Stop reached
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