PPL PROBABLY IN WAVE '' C '' - LONGThis 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.
