PSO is most probably in wave C of an ABC correction
If our preferred wave count is correct then PSO will target 300 level and then 255 & below.
Alternately, we might still be in wave B which can take price above towards 420 - 425 level.
We will enter trade at 341 once 342 level is taken out. On the other hand if price bounce back up from 342, we will enter trade once price touch the blue trendline.
Note:
Keep a close eye on the news/developing situation, if Oil ships start getting attacked thru Bab al-Mandab Strait in Red Sea then crude oil prices will most probably go beyond 127 & above which will probably drive PSO prices down giving confidence to this wave count.
Trade Setup:
Entry level: 341 or when price touches blue trendline
Stop loss: 401.10
1st Target: 300
2nd Target: 256
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 our preferred wave count is correct then PSO will target 300 level and then 255 & below.
Alternately, we might still be in wave B which can take price above towards 420 - 425 level.
We will enter trade at 341 once 342 level is taken out. On the other hand if price bounce back up from 342, we will enter trade once price touch the blue trendline.
Note:
Keep a close eye on the news/developing situation, if Oil ships start getting attacked thru Bab al-Mandab Strait in Red Sea then crude oil prices will most probably go beyond 127 & above which will probably drive PSO prices down giving confidence to this wave count.
Trade Setup:
Entry level: 341 or when price touches blue trendline
Stop loss: 401.10
1st Target: 300
2nd Target: 256
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.
Zlecenie aktywne
Entry level: 341Stop loss: 401.10
1st Target: 300
2nd Target: 256
Uwaga
Since the recent development, the likelihood of price going up has increased signficantly, therefore we will close all our positions today. Uwaga
Apologies for the delayed update:As the breakout was not significant our positions are still active, the peace talks have failed therefore we might see a drop in the market on coming Monday i.e. if no new changes occur today
Uwaga
1st target has become insignificant, if price keeps on declining and takes out 320 level, then price will most probably reach 256 - 255 level & below. Therefore we will target 255 - 256 level now.
Uwaga
Modified stop loss: 380.31Transakcja zakończona: osiągnięto poziom stop
Stop loss reached today, price will most probably take out 401.10 on next openingOverall performance -
Entry price: 341
Exit price: 380.50
Loss @ share: 39.50
Gross loss: 11.58%
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.