PENTA WILL MOVE SIDEWAY FOR CONSOLIDATIONPenta, a bullish stock has recovered with good rally up from its sharp correction happened in first quarter 2020 then.
Penta has hit a point with its completion of 5 waves up and has already entered in consolidation phase. It is predicted that Penta will move sideway in the range of 4.05~5.6 ballpark ranges. Once the consolidation phase is over, Penta will continue with its another 5 impulse waves uptrend.
Recommend to stay aside from Penta at this moment.
Happy trading!
PENTA trade ideas
PENTA kekal panjangPENTA telah berdagang di atas Purata Pergerakan 20-Hari (20MA) yang condong ke atas yang merupakan petanda baik. Di samping itu, harga hanya menembusi rintangan 5.25 yang menguatkan kenaikan dalam pergerakan harga baru-baru ini. Penembusan ini disertai oleh jumlah dagangan yang lebih tinggi daripada purata yang menunjukkan semangat pedagang untuk mendorong harga lebih tinggi dan melepasi rintangan ini sehingga memberikan kebarangkalian lebih tinggi untuk berjaya.
Trading Plan 6/2020 - PentaStrategy Uptrend Breakout Entry
I usually enter with 10% of my portfolio, then ride the trend.
Graph set up is a nice uptrend and momentum is building up, with a Inverse HnS forming
Exit Plan:
Noticeable there are 2 gap support , therefore my interpretation would be , they are strong support(which should not break), this is the kind of case I would exit at 5%, and 10% loss again
(Usually I exit at 7 - 10% loss)
Disclaimer: This is only a sharing of how I analyse & plan my trade.
PENTA - Bullish Breakout, More UpsidePENTA
Rst: 5.17/ 5.43
Spp: 4.98
Hammer candle, widening BB and surging RSI, MACD. This counter has all the bullish catalyst to advance. Fibo max target at 5.76
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PENTA H1 Looks Weak but there's OpportunityPenta is hovering around 4.5 Support area.
Daily chart still BULLISH and UPTREND. = Good
No Fast Turtle Sell = Good
FiFT still +ve = Good
Higher Timeframe still healthy.
However, ATOM sell and FiFT turned -ve on H1 chart (Sign of weaknesses)
PENTA still healthy as long as price staying above 4.5
Setup opportunity.
1) Option 1 Monitor hourly Chart.
Set alert notification on FiFT with condition SlowAvg crossing above 0 (FiFT turned +ve)
Set alert notification on ATOM Crossing 1.000 (ATOM Buy)
Once getting greenlight from FiFT and ATOM, wait for FAST TURTLE BUY breakout. SL below 4.40 (Short term Trade)
2) Option 2. Fast Turtle Buy based on Daily chart with condition FiFT is higher than previous bar. SL below 4.40 (Short Term trade)
PENTA is waking up ? Most counters are RED while Penta is moving opposite direction and againts global market direction.
Volume not so impressive but higher. Someone is cooking..
Fast Turtle Buy, ATOM Buy signal is out.
Slow Turtle Buy signal will pops up If price able to break and stay above 4.18
Monitor or risk buy.